Crypto Hacks: September Losses Dip, But Danger Still Lurks

Blockchain security firm PeckShield reports that crypto hacks resulted in a loss of $127.06 million in September 2025. While this represents a 22% decrease from the $163 million lost in August, the figure remains alarmingly high, with nearly 20 significant exploits recorded.

Key Takeaways:

• Decline in Losses: September saw a decrease in losses compared to August, but the overall figures indicate that hacks remain a major problem.
• Concentrated Attacks: A few major incidents, notably UXLINK and SwissBorg, accounted for the majority of the losses.
• Ongoing Threat: The industry needs to improve security measures to prevent further large-scale attacks.

Notable Exploits

UXLINK: $44.14 Million Lost

Blockchain-based social networking platform UXLINK suffered the largest attack, losing $44.14 million. The attacker exploited a multisig wallet to mint nearly 10 trillion unauthorized tokens, causing the UXLINK token price to plummet. Despite freezing some assets and notifying law enforcement, the attacker still managed to swap a significant number of tokens for ETH.

SwissBorg: $41.5 Million Drained

Wealth management app SwissBorg was hit with a $41.5 million loss in Solana. The attack stemmed from a breach of partner API provider Kiln, impacting the platform's Earn program. SwissBorg has pledged treasury funds to compensate affected users.

Venus: $13.5 Million Phishing Attack

A phishing attack on a Venus user led to the theft of $13.5 million in assets. Fortunately, approximately $13 million of this amount was successfully recovered.

Other Incidents:

Several other platforms experienced smaller exploits, including:

• Yala ($7.64 million)
• GriffAI ($3 million)
• Nono, Shibarium Bridge, Basset, New Gold Protocol, and SolidifyFund (between $1 million and $2.4 million each)

Overall Trend

While September's figures are lower than August's, they are still higher than July's $142 million, showing no significant downtrend in exploit activity. The first half of 2025 witnessed billions of dollars stolen from protocols. Unless industry-wide defenses improve, 2025 could become one of the worst years for crypto security breaches.