Crypto Scams and Hacks Surge in September 2025, Losses Top $155M
September 2025 witnessed a surge in crypto scams and hacks, with 14 major incidents reported, excluding phishing. This is the highest number since March 2025. The crypto industry suffered significant losses, totaling $155.9 million.
The month began with a major hack targeting SwissBorg, a Switzerland-based crypto wealth management platform. The company lost over $40 million due to an exploit in the API of its staking partner Kiln. This incident underscored the importance of robust security measures in the crypto industry.
Throughout the month, there was a worrying increase in wallet compromises, with over $100 million lost to such incidents. Phishing attacks also proved costly, resulting in over $26 million in losses. One notable victim was UXLINK, which suffered a phishing attack leading to a loss of over $45.5 million and a dramatic price drop to nearly zero.
Experts advise crypto users to remain vigilant and conduct thorough analysis before investing. The increasing number of attacks and the significant capital lost underscore the need for enhanced security protocols and user caution.
September 2025 marked a troubling trend in the crypto industry, with a sharp increase in scams and hacks. The total losses, including the SwissBorg incident, highlight the urgent need for improved security measures and user vigilance. As the crypto landscape evolves, so too must its security and user awareness.
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