Morning Edition · Saturday, August 15, 2026Published at 1:40 AM EDT · New York

This Year's Largest Crypto Losses Ran Through Keys and Signers Rather Than Broken Contract Code

Rekt's review of the first half puts the Coldcard seed failure at about $116 million, a validator-signature bridge drain at AFX Trade at $24.15 million and a second VerusCoin bridge loss at $7.54 million, all in components that behaved as specified.

The security publication Rekt makes a single argument across its recent incident reports: the largest losses of the first half of 2026 passed their audits, because the failures were not in the contract code. They were in keys, signature set…