TRM Labs recorded 32 price manipulation attacks targeting DeFi lending protocols between January and August 2026, shattering the previous annual record of 12 incidents set in 2025. These exploits, which now account for one in eight crypto hacks versus one in 17 in 2022, resulted in $972 million in aggregate losses across 207 total hacks, with a median loss of approximately $219,000 per incident. The method relies on flash loans to temporarily inflate the price of a low-liquidity token used as collateral to borrow real assets before the price snaps back. The Tectonic protocol on Cronos lost roughly $75 million on August 30 before a chain rollback recovered most of the funds, while Moonwell suffered an $8.7 million loss three days earlier without any similar intervention.
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