Crypto security firm Hacken reported that $1.18 billion was stolen across 107 separate incidents during the third quarter of 2025. The figures highlight how frequently attacks are hitting the crypto ecosystem, affecting projects and individual users alike.
Hacken, a blockchain security auditing company, released the Q3 findings showing both the scale of losses and the volume of incidents recorded between July and September 2025. The combination of a high dollar total and a high incident count means losses were not limited to one or two large breaches. For related coverage, see South Korea Considers Crypto Tax Delay After Exchange Meeting.
What $1.18B stolen across 107 incidents actually means
When a security report lists both a dollar amount and an incident count, the two numbers tell different stories. The $1.18 billion total reflects the combined value taken from victims. The 107 incidents reflect how many separate attacks or exploits Hacken recorded over the quarter, roughly one attack every two to three days.
Spreading $1.18 billion across 107 incidents produces an average loss of around $11 million per event. That average masks wide variation: a small number of large exploits typically account for the bulk of losses in any quarter, while the majority of incidents are smaller in scale. Hacken’s report does not break that distribution down in the information available, so the average should be read as context, not as a typical outcome.
For anyone who holds crypto, whether on a major exchange or in a self-custody wallet, the 107-incident figure is arguably the more relevant number. It signals that attacks are not rare, isolated events. They are a recurring feature of the crypto landscape, and the targets range from large decentralized finance protocols, which are automated programs that run on a blockchain, to individual wallets.
Concerns about wallet security have been growing alongside theft reports. A separate look at crypto scam losses and wallet protection tools found that annual scam losses had reached $3.1 billion, underscoring that the Q3 figure from Hacken sits within a much larger ongoing problem.
Steps crypto users and projects can take after this report
Hacken’s Q3 figures are a prompt, not a prediction. No security report can tell you whether your wallet or the protocol you use will be targeted. What it can do is make the case for reviewing basic security habits, which remain the most effective defense against the majority of attacks.
For individual holders, the most important step is verifying wallet addresses and transaction details before approving any action. Many thefts rely on users signing a transaction they did not read carefully, or sending funds to an address they did not double-check. Slowing down before confirming any outgoing transaction removes a large category of risk.
Protecting your recovery phrase and private keys is equally important. These credentials grant complete access to a wallet. Storing them digitally, sharing them with anyone, or entering them on an unfamiliar website are the three most common ways attackers gain access. A recovery phrase should be written down and kept physically secure, offline, and private.
Phishing remains one of the most common attack vectors in crypto. Attackers send emails, direct messages, or set up convincing fake websites that prompt users to connect their wallet or enter credentials. Bookmark the official URLs of exchanges and protocols you use regularly, and treat any unsolicited message asking you to take action on your wallet with suspicion. This is relevant context for users of any platform, including those using payment integrations like crypto payment services linked to major card networks, where wallet connections introduce additional risk surfaces.
For projects and developers, the Q3 figure reinforces the case for professional security audits before deploying smart contracts or launching new features. An audit does not guarantee safety, but it identifies known vulnerability classes before they can be exploited. Projects should also maintain a clear incident-response plan so that if an exploit does occur, the team can move quickly to limit damage and communicate with users.
Regulatory interest in crypto security is also rising. Policy discussions around how exchanges and protocols should handle user protection are ongoing, including calls for updated SEC rules covering crypto platforms. Users should be aware that the regulatory environment around crypto security disclosures is still evolving, and that current protections vary widely depending on the platform and jurisdiction.
Custody arrangements matter too. When a centralized exchange holds your crypto, you are relying on that exchange’s security practices. When you hold crypto in a self-custody wallet, security is your responsibility. Neither model is universally safer, but understanding which model you are using helps you know what questions to ask and what risks you carry. The increasing scrutiny on external wallet transfers from regulated financial institutions reflects how seriously custody and transfer risks are being treated at the institutional level.
Hacken’s Q3 report does not change the fundamentals of crypto security, but it adds weight to them. Over 100 incidents in a single quarter means that attacks are not a background risk to acknowledge and ignore. They are an active, recurring threat that warrants consistent attention from anyone participating in the crypto ecosystem.
Additional source references: source document 1, source document 2.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
