ChainThink reports that Web3 security firm CertiK recently released the "2026 Stablecoin Threat Report," highlighting that the stablecoin ecosystem is facing dual challenges in technical security and regulatory compliance.
According to official announcements, cross-chain bridge-related security incidents since 2026 have resulted in losses exceeding $328 million, with the Kelp DAO wallet breach alone accounting for a single loss of $291 million, highlighting that cross-chain bridges, custodial systems, and payment infrastructure have become prime targets for hackers.
The report also provides a detailed analysis of the development of the Russian ruble-backed stablecoin A7A5. On-chain data shows that since its launch in 2025, the stablecoin has accumulated transaction volume exceeding $110 billion, accounting for approximately 43% of the global non-U.S. dollar stablecoin market.
It demonstrates a new model for building a cross-border settlement network using stablecoins and has become a key focus for regulators. Despite ongoing rounds of sanctions by the U.S. and Europe, the number of A7A5 holding addresses continues to grow, reflecting new challenges faced by traditional sanction systems when confronting on-chain financial networks.
CertiK states that stablecoin risks have expanded from smart contract vulnerabilities to include financial infrastructure and geopolitical factors, becoming a critical issue in global financial system risk management.