In November, cyberattacks on crypto projects resulted in losses of nearly $195 million.
Date: 2025-12-02 Author: Oliver Abernathy Categories: BUSINESS
During November 2025, analytics firm PeckShield recorded approximately fifteen major attacks on crypto services and DeFi protocols. The total damage amounted to approximately $194.27 million, almost ten times higher than in October, when the industry lost approximately $18.18 million. This surge was a significant signal of growing security threats in the blockchain sector, especially amid the continued growth of the DeFi segment and liquidity storage services.
The bulk of the stolen funds were related to incidents involving Balancer v2 and several related forks. A vulnerability in the pool mechanics allowed attackers to drain liquidity, resulting in losses of approximately $137.4 million. Remarkably, some of the stolen assets—approximately $39 million—were later recovered, but this did not reduce the scale of the attack.
The second largest incident involved the hack of the Upbit exchange. According to the exchange, approximately $36 million disappeared from a hot wallet on the Solana network as a result of unauthorized asset withdrawals. The exchange responded quickly, strengthening security and temporarily restricting operations, but the incident once again raised concerns about the risks of storing funds in hot wallets.
The third significant attack affected Yearn Finance. Hackers exploited a vulnerability in the yETH index product, which formed pools of several popular LST tokens. A vulnerability allowed the assets to be withdrawn in a single transaction, resulting in losses of approximately $9 million. The situation was exacerbated by the fact that yETH was marketed as a diversification tool, but it also served as an example of how even complex DeFi mechanisms remain vulnerable.
In addition to these incidents, other projects were also affected. On the Hyperliquid platform, the liquidity provider lost approximately $4.95 million, while on the BNB Smart Chain network, the GANA project was attacked, resulting in losses of approximately $3.1 million. In both cases, funds were quickly moved between networks, complicating tracking and recovery.
The context of the situation becomes even clearer given data published by Hacken several months ago. According to the report, in the first six months of 2025, the crypto industry has already lost over $3 billion as a result of hacker attacks and technical vulnerabilities. November's statistics only highlight that this trend has not reversed by the end of the year, and the security of digital assets remains a critical issue for the market.
The increasing number of attacks and growing losses may lead to increased scrutiny from infrastructure developers and regulators. As the blockchain economy develops, capital protection issues become a key factor in its sustainability.
