The security risks of stablecoins have become a mainstream focus.

Recently, a well-known financial media outlet delved into the regulatory and security risks of stablecoins in its cover story, citing key data and analyses from an authoritative stablecoin panorama report, revealing the actual risks faced in the on-chain asset sector. This marks that on-chain security has become an important topic of concern for mainstream public opinion and regulatory authorities.

The report indicates that according to a panoramic report on stablecoins for the first half of 2025 released by a leading Web3 security company, there were 344 cryptocurrency security incidents, resulting in losses of up to $2.47 billion. Among these, losses due to key management errors and liquidity pool logic vulnerabilities exceeded those from underlying contract vulnerabilities. This suggests that attackers' strategies have shifted from targeting contract code to the operational infrastructure of centralized platforms, highlighting the counterparty risks faced by stablecoin holders.

The report also cited the analysis of several typical events in the report, emphasizing that the risk assessment of stablecoins should not be limited to the tokens themselves but should also consider the entire application ecosystem they rely on.

In addition, the report systematically outlines the discussions on stablecoins that surged globally (especially in mainland China, Hong Kong, the United States, and Europe) during the period from June to July 2025, as well as the subsequent cooling trend. The article conducts an in-depth analysis across multiple dimensions, including cross-border payments, monetary sovereignty, regulatory challenges, and technological risks, with particular emphasis on the fact that security threats have become one of the key focuses of regulators and industry participants.

Stablecoin Report: Comprehensive Insights on On-Chain Risks

In addition to key management and infrastructure risks, the report also reveals another noteworthy security trend — the systemic risks caused by stablecoin price decoupling are becoming a major cause of significant losses.

The report shows that in the first half of 2025, stablecoin de-pegging incidents have resulted in losses exceeding $50 million. Since 2022, the stablecoin ecosystem has experienced at least 26 major security incidents, including exploitations and price de-pegging, which have caused a total financial loss of approximately $20.5 billion.

Analysis shows that the primary factors causing significant financial losses have shifted from direct technical attacks to market-driven decoupling events. Although the stablecoin ecosystem still faces the dual threats of smart contract vulnerabilities and price stabilization crises, data indicates that the collapse of market confidence and weak operational security have become the main reasons leading to significant losses.

The risk landscape in the first half of 2025 is almost entirely dominated by this type of stability issue, with no significant losses reported due to hacker attacks. This trend highlights a fundamental shift in the paradigm of stablecoin security—robust reserve management, transparent operational mechanisms, and ongoing efforts to build market confidence have become the core pillars for ensuring the stability of the ecosystem.

On-chain security gradually enters the mainstream view

The citation of this stablecoin report by well-known financial media highlights that on-chain security risks have gradually entered the focus of mainstream public opinion and regulatory attention. As a global leading Web3 security company, the report's publisher has long been committed to promoting transparency and security in the industry through technology. With its powerful on-chain real-time monitoring capabilities and in-depth security research, the data and insights provided by the company have been widely accepted by mainstream media and regulatory agencies, becoming an important source of information for understanding and tracking the Web3 security landscape.

In the future, leading security companies in the industry will continue to rely on cutting-edge technology and independent research to provide reliable security guarantees and strategic support for Web3 builders, users, and regulatory agencies, promoting the construction of a safer and more trustworthy digital financial world.