Cryptography test reveals the fundamental changes in the loss structure of cryptocurrency security

Multiple industry analysis agencies’ latest research reports are sending new warning signals about the state of crypto security. In particular, the importance of comprehensive security evaluation systems that include cryptographic testing is increasing more than ever. Reports from authoritative media outlets such as CoinTelegraph, CertiK, and Business Insider, along with long-term research by blockchain analytics firm Chainalysis, consistently point to a shift not just in the number of attacks but in the qualitative nature of security threats.

Annual damages exceed $3.3 billion, with rapid growth in the destructive power of individual attacks

According to comprehensive industry data, total annual losses from hacker attacks, exploitation of vulnerabilities, and scams have reached between $3.3 billion and $3.35 billion. At first glance, these are staggering figures, but a deeper analysis reveals underlying structural changes.

While the frequency of traditional, low-value, sporadic attacks has actually decreased, there is a clear trend toward a small number of highly sophisticated targeted attacks accounting for most of the total losses. This phenomenon indicates a qualitative shift in crypto security risks and highlights a crisis depth that cannot be measured solely by numerical increases or decreases.

Attack quality changes, average losses increase by over 60%

Even more striking is the increase in average loss per individual attack. CertiK’s annual security review data shows that, compared to the previous year, while the number of attacks decreased, the average loss per incident surged by over 60%, reaching approximately $5.3 million.

This statistical paradox highlights a strategic shift among attackers. Instead of numerous small-scale, low-profit attacks, they are concentrating limited resources on high-value infrastructure and critical nodes. Chainalysis’s analysis indicates that each successful attack’s economic impact is significantly expanding, which reflects not just technological evolution but also an advanced adaptation strategy by attackers as the crypto asset market matures.

Supply chain attacks emerge as a new threat, conventional code audits are insufficient

A notable change in the damage composition is the rise of supply chain vulnerabilities as one of the most destructive attack vectors. Just two major supply chain-related incidents have caused approximately $1.45 billion in losses, nearly half of the annual crypto security losses.

Unlike traditional smart contract vulnerability attacks, supply chain attacks cleverly bypass standard code audits. Attackers target third-party dependencies, development environments, or underlying infrastructure directly, making attacks more covert, widespread, and costly to remediate. Combating this type of attack requires more systemic and layered cryptographic testing frameworks, as conventional testing methods are inadequate.

Systemic risks in crypto security demand urgent overhaul of testing frameworks

The fundamental shift indicated by these trends is a qualitative change in crypto security risks. Historically, risk was centered on vulnerabilities in individual smart contracts. Now, the focus is rapidly shifting toward systemic risks involving infrastructure and dependencies.

Single-project cryptographic testing and traditional code audits are increasingly insufficient to address the most destructive sources of risk. This reality imposes higher demands on exchanges, protocol projects, and institutional participants. Security systems need to upgrade from “project-level” to “ecosystem-level,” and cryptographic testing and security verification frameworks must evolve accordingly.