Crypto Exploits Decline by 22%: $127 Million Lost in September
In September 2025, the cryptocurrency sector experienced a decline in exploits, with losses totaling $127.06 million, a 22% decrease from the $163 million lost in August. Despite this decline, the number of significant hacks remained high, with nearly 20 major incidents recorded throughout the sector.
According to Peckshield, a blockchain security firm, the decline in total losses from August shows that while the number of hacks remains a significant challenge for the industry, the total amount of losses has decreased. However, the data also reveals that the total losses in September were heavily concentrated on a handful of significant incidents, with Uxlink and Swissborg accounting for almost two-thirds of the losses.
Major Hacks in September: Uxlink and Swissborg
Uxlink, a blockchain-based social networking platform, suffered the largest attack in September, losing $44.14 million. The hacker exploited a vulnerability in the platform’s multi-digit wallet, minting nearly 10 trillion tokens. Following the attack, Uxlink’s token price plummeted by over 90%. The attacker transferred the assets to an exchange, but Uxlink announced that many deposits were frozen with the support of exchange and law enforcement authorities.
Swissborg, a well-known asset management app in the crypto space, was also affected, losing $41.5 million in Solana. The attack occurred after a hacker breached Kiln, a partner of Swissborg, and withdrew around 192,600 SOL from the EARN program. The platform reported that less than 1% of users were affected and pledged to compensate funds, engaging white hat hackers to investigate the incident.
Other Significant Hacks in September
In addition to Uxlink and Swissborg, other notable hacks in September included a phishing attack on a Venus user, resulting in $13.5 million in stolen assets. Peckshield reported that around $13 million of the stolen funds were successfully recovered, making it one of the few cases where stolen funds were returned to the victims. Other incidents included Yala, which lost $7.64 million, and Hiefai, which suffered a hack of $3 million.
Peckshield also tracked the movement of stolen funds, identifying transfers of hundreds of ether via wallets, with individual transactions ranging from 443 ETH to 800 ETH. However, it remains unclear whether these assets were introduced into mixers or other laundry services.
September Crypto Hacks: A Trend of High-Value Thefts
The figures in September continue a trend of high-value thefts in 2025, despite a decline in August providing short-term relief. The losses in September were slightly below the $163 million in August but higher than the $142 million in July, indicating no clear downward trend in exploit activities.
In a broader context, protocols were drained of billions in the first half of 2025, with the chain estimated to be around $2.47 billion, even higher than the $2.2 billion stolen in 2024. A significant portion of this number was attributed to the massive Bybit hack in February, which alone resulted in the theft of around $1.5 billion.
Comparisons with previous years show the extent of the problem, with the mid-2025 totals already exceeding the $2.2 billion stolen in 2024, making this year one of the worst in crypto history for security breaches. Analysts warn that 2025 will remain one of the most challenging years for the industry, with three months left to go, and the potential for record-breaking losses.
For more information on crypto exploits and security breaches, visit Cryptonews.com.
