Crypto Audits Fail to Prevent $1.18B in Q3 Hacks, Despite Growing Security Focus
Security firm Hacken reports that 77% of Q3 crypto losses stemmed from compromised suppliers and outdated security systems.
Security firm Hacken reports that 77% of Q3 crypto losses stemmed from compromised suppliers and outdated security systems. BNB (BNB) is trading at $726.44, up 0.3% since this brief published. This is an original TLT brief based on reporting by CoinDesk, with live market data added, as of Mon, 19 Oct 2026 12:30:07 UTC.
This highlights a critical gap between security audits and actual protection, raising concerns about the effectiveness of current audit practices in safeguarding crypto assets. The substantial losses despite increased security measures underscore the need for more robust protection mechanisms.
- Q3 crypto hacks resulted in $1.18 billion in losses, per Hacken.
- 77% of losses involved compromised suppliers or outdated security systems.
- BNB Chain completed a $1.197 billion quarterly burn amid bearish indicators.
Hacken, a blockchain security firm, revealed that $1.18 billion was lost to crypto hacks in Q3 2023, with 77% of these losses stemming from compromised suppliers, delayed security fixes, and systems that were not covered by the latest security reviews.
The findings suggest that despite the growing popularity of crypto audits, many projects remain vulnerable due to inadequate protection of critical infrastructure and slow implementation of security updates.
In related news, 
BNB Chain completed its 37th quarterly burn, destroying $1.197 billion worth of BNB tokens. This event coincided with bearish market indicators suggesting potential downward price movement toward the $700 support level for BNB.
The broader crypto market remains relatively stable, with a total market cap of $2.82 trillion. 
Bitcoin is up 0.36% in the past 24 hours, while the overall market sentiment, as measured by the Fear & Greed Index, sits at 59, indicating 'Greed.'
BNB is currently trading at $724.54, showing a modest 0.25% gain in the last 24 hours but a 3.45% decline over the past week. This price action suggests investors may be reacting to both the security concerns and the significant BNB burn.
Since this brief published about 24 hours ago, BNB (BNB) has moved from $724.54 to $726.44 — +0.26%.
The chart plots BNB's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 BNB ≈ ₦989,360.43 (about $726.44), up 0.5% over 24 hours. The naira itself trades about 2.3% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Crypto Audits Fail to Prevent $1.18B in Q3 Hacks, Despite Gr — questions & answers
What percentage of Q3 crypto losses were due to compromised suppliers?
77% of Q3 crypto losses were attributed to compromised suppliers, delayed fixes, and outdated security systems.
How much BNB was burned in the latest quarterly event?
BNB Chain burned $1.197 billion worth of BNB tokens in its 37th quarterly burn.
What is the current market sentiment for crypto?
The Fear & Greed Index stands at 59, indicating 'Greed.'
How much is 1 BNB worth in naira today?
About ₦989,360.43 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $726.44. The naira price moves with both BNB's US-dollar price and the USDT/NGN rate; use our BNB in naira page for any amount.
Has BNB's price moved since this brief was published?
BNB is up 0.26% since this brief first published — trading at $726.44 now versus $724.54 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from CoinDesk. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.