The cryptocurrency sector experienced severe security breaches in November 2025, with total losses from exploits, hacks, and scams reaching $127 million, as reported by blockchain security firm CertiK. The actual attempted exploits exceeded $172 million, but recovery efforts led to approximately $45 million being frozen or restored through collaborations with law enforcement.
The most significant incident involved Balancer Protocol, which lost over $113 million due to vulnerabilities in its liquidity pool mechanics, impacting Ethereum-based and Layer 2 platforms. Other major breaches included the South Korean exchange Upbit, which suffered a $37 million hack linked to the North Korean-affiliated Lazarus Group. Berachain's exchange BEX lost over $12 million but successfully recovered the funds, while platforms like Beets and Gana Payment incurred losses of $3.8 million and $3.1 million, respectively.
CertiK's data highlighted that code vulnerabilities were the primary cause, accounting for over $130 million in losses, followed by wallet compromises at $33 million. Phishing incidents decreased to $5.8 million from $28 million in October. The DeFi sector was the most affected, with losses surpassing $134 million, while exchanges recorded $29 million in damages. A total of 53 incidents were recorded, underscoring the escalating sophistication of cyber threats and the urgent need for robust security frameworks in the industry.
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