Crypto Industry Losses from Hacks Drop by 37% in Q3

However, September set a negative record for the number of major incidents.

Total losses in the digital asset industry due to hacker attacks fell by 37% in the third quarter, amounting to $509 million, according to a report by CertiK.

1/ Despite this record, the number of incidents causing losses exceeding $1 million is still on track to decline from 2024. pic.twitter.com/SsgsHuPrUG

— CertiK Alert (@CertiKAlert) October 3, 2025

However, September set a negative record for the number of major incidents. The month saw 16 attacks (excluding phishing) with damages exceeding $1 million.

In July and August, the figures were eight and five, respectively. Incomplete data for 2025 shows 302 hacks compared to 472 in 2024.

Key Details

In the third quarter, losses from code vulnerabilities sharply decreased compared to the previous quarter, from $272 million to $78 million, writes Cointelegraph citing the full CertiK report. Losses related to phishing also declined, despite a similar number of incidents.

Experts observed that over the past three months, there were no major hacks exceeding $100 million, but attackers focused on medium-scale attacks.

Centralized exchanges suffered the most significant losses, with $182 million stolen.

“Exchanges, as well as DeFi projects, continue to be lucrative targets for attackers, especially state-sponsored groups,” stated CertiK.

Nevertheless, the complex nature of decentralized finance still attracts hackers, researchers emphasized. The DeFi sector ranked second, losing $86 million. 

One of the largest was the attack on the decentralized exchange GMX, resulting in a $40 million theft. However, the hacker returned the funds for a $5 million reward.

At the end of September, rumors emerged about a hack of the DeFi protocol Pendle. The team denied this information.