What happened? September saw $127.06M lost to crypto hacks, led by big attacks on UXLINK and SwissBorg.
Blockchain security firm PeckShield reported $127.06 million in losses for September 2025, a 22% drop from August but still driven by nearly 20 major exploits. UXLINK lost about $44.14 million after a multisig exploit that allowed massive token minting and crashed its token, while SwissBorg lost $41.5 million in SOL after a partner API was breached. Other incidents, including a $13.5 million Venus phishing attack (with about $13M recovered) and several $1M–$8M hacks, kept overall losses high.
Who does this affect? Users, projects, exchanges, and anyone with crypto exposure feel the impact.
Directly affected are protocol users who lose funds and projects that face depleted treasuries or emergency compensation commitments. Exchanges and custodians face pressure as attackers try to cash out and platforms scramble to freeze deposits or coordinate with law enforcement. Indirectly, investors, token holders, and third-party service providers like API partners see reputational damage, price crashes, and increased scrutiny.
Why does this matter? These hacks increase market volatility, erode trust, and raise costs across the crypto ecosystem.
Large, concentrated losses force selling and sharp token price drops—UXLINK’s crash is a clear example—leading to wider negative sentiment across markets. With 2025 already tracking toward record annual thefts, investor confidence and capital inflows into DeFi risk declining, which can reduce liquidity and stunt project growth. That dynamic also invites tighter regulation, higher security and insurance costs for protocols, and greater caution from institutional players, all of which can weigh on market recovery and long-term adoption.