Crypto Hacks Surge 10x in November as ‘Code Fragility’ Costs DeFi $127 Million

• The Surge: Crypto hacks jumped 10x in Nov, totaling $172M in gross losses.
• The Victims: Balancer ($113M) and Upbit ($30M) led the list of exploited entities.
• The Cause: Smart contract code flaws replaced phishing as the #1 attack vector.

The cryptocurrency sector suffered a catastrophic security regression in November, with total losses from exploits and hacks surging nearly 1,000% month-over-month. 

According to a forensic report by blockchain security firm CertiK, the industry lost a total of $127 million, with smart contract vulnerabilities, rather than phishing, reclaiming the title of the primary attack vector. 

Closer Look at Major Crypto Exploits in November 2025

During the four weeks of November 2025, CertiK Alert recorded more than 10 major attacks. The largest crypto attack in November involved Balancer and Upbit, which lost $113 million and $29 mil…

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