The growing adoption of stablecoins is raising security risks associated with these tokens. This article presents tokens with high security levels according to CertiK's rating system.
Stablecoin Security Ranking
According to CertiK's assessment, Tether's USDT ranks first among major stablecoins in the Skynet scoring system with an overall score of 94.72. The company plans to increase its supply from $138 billion to $154 billion in the first half of 2025.
Circle's USDC comes in second with a score of 93.37. Securing a MiCA license and completing an IPO allowed USDC's supply to grow from $41 billion to $61 billion, earning it the title of 'fastest-growing' stablecoin according to CertiK.
Third place is occupied by PYUSD from PayPal and Paxos, scoring 91.47. The token's market cap has doubled in the first half of 2025, showcasing its competitive nature.
Impact of Incidents on Stablecoins
CertiK reports that there were 344 security incidents recorded in the past year, resulting in $2.47 billion worth of stolen crypto assets. While most incidents aren't directly related to stablecoins, they often suffer significant impacts. For example, First Digital USD's price dropped to $0.76 due to rumors regarding the security of its reserves, before recovering to $1.00 following an audit confirmation of asset safety.
Causes of Stablecoin Value Drops Over the Last 10 Years
The causes of price drops in stablecoins over the last decade can be categorized as follows:
**Depegs (Total: 14):** - Compliance events - Liquidity issues - Exchange delistings - Asset mismanagement suspicions - Issuance halts by the company
**Exploits (Total: 7):** - Token contract vulnerabilities - Other contract vulnerabilities - Chain vulnerabilities
**Death Spirals (Total: 3):** - Design failures - Insufficient reserve assets
Fiat-pegged tokens require special attention to their reserves, as one wrong move could jeopardize their 1:1 ratios.
The observed growth trends in stablecoins demand serious consideration of security and regulatory compliance issues within the community. Tokens like USDT, USDC, and PYUSD demonstrate high security levels, yet vulnerabilities remain a concern for all market participants.
