Crypto exploits drain $127M in September as UXLINK, SwissBorg hit for $30M combined
PeckShield data shows $127 million lost to crypto exploits in September, with DeFi platforms UXLINK and SwissBorg among the hardest hit. Losses remain high despite a monthly decline.
The crypto industry faced another turbulent month as a Crypto Exploit surge wiped out $127 million in digital assets across multiple platforms in September 2025, according to blockchain security firm PeckShield.
While the figure marked a 22% decline compared to August’s $163 million, experts caution that the scale of attacks remains a pressing concern. The continued frequency of breaches underscores the vulnerability of decentralized finance (DeFi) ecosystems.
“Exploits may have dipped this month, but the Crypto Exploit surge continues to reflect deep structural risks in smart contracts and exchange security,” — PeckShield, in its September report.
SocialFi platform UXLINK was among the largest victims of the September Crypto Exploit surge. Hackers executed a sophisticated phishing scheme, stealing approximately $15.2 million worth of assets.
The breach highlights the growing threat of social engineering attacks in the crypto space, where user trust is often leveraged as a vulnerability point.
UXLINK has since announced measures to strengthen wallet security and improve community awareness campaigns, though no recovery of stolen assets has been reported to date.
SwissBorg exploited for $15.3M
Swiss-based wealth management platform SwissBorg also suffered a major loss during the September Crypto Exploit surge. Hackers drained $15.3 million through an exploit targeting its smart contract systems.
The company confirmed the incident but stressed that client funds held in custody remained safe. SwissBorg said it is working with cybersecurity partners and blockchain forensic firms to track the stolen funds.
In a statement to investors, SwissBorg emphasized that it remains “financially stable and committed to tightening defenses against future exploits.”
Venus Protocol and smaller hacks add to total
Beyond the headline attacks, several smaller incidents contributed to September’s $127 million total. Venus Protocol, a DeFi lending platform, was hit for $10.25 million.
PeckShield’s report also listed a series of smaller breaches across decentralized applications and blockchain projects, adding up to tens of millions in cumulative losses.
These smaller-scale incidents highlight how widespread the Crypto Exploit surge has become, affecting both major platforms and less prominent projects.
2025: A year of escalating exploits
The latest data cements 2025 as one of the most challenging years for crypto security. Even with September’s decline, the cumulative losses from hacks and exploits this year are on track to exceed last year’s totals.
PeckShield’s analysis attributes the trend to:
Increasing sophistication of hacker groups
Persistent vulnerabilities in smart contract code
Rising value locked in DeFi protocols
Expansion of phishing and social engineering strategies
Industry observers warn that unless stricter audits and regulatory standards are enforced, the crypto Exploit surge could undermine mainstream adoption.
“DeFi offers innovation, but exploits remain its Achilles’ heel. Stronger auditing, real-time monitoring, and insurance mechanisms are urgently needed,” — Blockchain security researcher, cited in PeckShield’s report.
Outlook: Recovery or more turbulence?
Despite September’s 22% month-on-month decline, the numbers remain alarming for investors and policymakers. DeFi platforms continue to attract billions in capital, making them prime targets for sophisticated cyberattacks.
For users, the lesson from the ongoing Crypto Exploit surge is clear: exercise caution, diversify holdings, and remain vigilant against phishing attempts and too-good-to-be-true opportunities.
With October already underway, the crypto community is watching closely to see whether September’s decline represents a turning point — or just a brief pause in a year dominated by cybercrime.
Moses Edozie is a writer and storyteller with a deep interest in cryptocurrency, blockchain innovation, and Web3 culture. Passionate about DeFi, NFTs, and the societal impact of decentralized systems, he creates clear, engaging narratives that connect complex technologies to everyday life.