The project didn't disclose who the fund manager was, or the circumstances in which the "loss" occurred.
The Staked Stream USD token depegged on November 3, and crashed further following the announcement.
Stream Finance halts activity after $93 million loss
The Stream Finance defi yield project announced that "an external fund manager overseeing Stream funds disclosed the loss of approximately $93 million in Stream fund assets." Stream announced that they were in the process of withdrawing remaining liquid assets, and had halted all deposits or withdrawals. They also announced they had retained a law firm to investigate the "incident".
Balancer exploited for at least $110 million
The defi protocol Balancer suffered a major exploit that drained over $110 million across several blockchains, including Ethereum, Polygon, Base, and Sonic. Attackers exploited faulty access control in the
manageUserBalance function of Balancer's v2 smart contract, enabling unauthorized internal withdrawals. The stolen tokens included 6,850 osETH, 6,590 wETH, and 4,260 wstETH, later consolidated into new wallets likely for laundering.The exploit also impacted forked protocols like Beets Finance, which lost around $3 million. Balancer's BAL token dropped over 10% following the theft.
This was Balancer's third major security incident since 2020, despite prior audits by OpenZeppelin and Trail of Bits.
Garden hacked for $11 million
The Garden bitcoin bridge suffered a roughly $11 million loss after one of its solvers was compromised. These solvers essentially act as market makers for the protocol. Some blockchain sleuths have questioned whether the affected solver, which Garden described as a separate entity, may actually be operated by the same team as Garden.
There wasn't much sympathy to be had for Garden after this exploit. The protocol had recently announced hitting a milestone of bridging more than $2 billion in assets, but the celebration was criticized after zachxbt pointed out that a substantial portion of the bridged funds were proceeds of crimes being laundered to evade detection and recovery.
Cryptomus fined $127 million for compliance failures
The Canadian cryptocurrency exchange Cryptomus has been fined CA$177 million (US$127 million) by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) for failing to report more than 1,000 suspicious transactions linked to darknet markets, distribution of child sex abuse material, fraud, ransomware, and sanctions evasion. It additionally failed to report more than 7,500 transactions originating from Iran, and more than 1,500 high-value transactions.
Cryptomus was temporarily banned from trading in British Columbia in May. The CA$177 million fine smashes Canada's previous record for the largest penalty they've ever imposed. That honor previously went to KuCoin, another crypto exchange fined CA$20 million (US$14.3 million) in September.
Fortress Trust is insolvent
Nevada's Financial Institutions Division has issued a cease and desist order against Fortress Trust, stating that the firm is "on the verge of insolvency". The company admits it "failed to safeguard assets under its custody and is unable to meet all customer withdrawals". The company has only around $1.3 million in actual assets in custody, while it owes customers around $12.3 million.
In 2023, Fortress experienced a $15 million theft. Though the company originally announced it would be acquired by Ripple, which had agreed to cover the shortfall, the deal eventually fell through. It's not clear how — or if — the funds were ever restored.
Fortress's insolvency has strong parallels to that of Prime Trust, another trust company that shares a founder in Scott Purcell. NFID issued a cease and desist to Prime Trust in June 2023 after finding the company was insolvent; in bankruptcy proceedings, that company later blamed much of the insolvency on losing access to a hardware wallet that held customer assets.
- Order to cease and desist from violations of NRS 669, State of Nevada Department of Business and Industry Financial Institutions Division.
Paxos accidentally mints more than twice the global GDP in PayPal stablecoins
Paxos, the issuer of PayPal's PYUSD stablecoin, accidentally minted 300 trillion of the supposedly dollar-pegged token. For context, this is approximately 2.5x the global GDP, and around 125x the total number of US dollars actually in circulation.
Paxos later announced that the mint was an "internal technical error", and that they had burned the excess tokens.
While PayPal promises its customers that "Reserves are held 100% in US dollar deposits, US treasuries and cash equivalents – meaning that customer funds are available for 1:1 redemption with Paxos," there clearly isn't much in the way of safeguards to ensure that is always the case. As with most stablecoin issuers, Paxos merely issues self-reported and unreviewed portfolio reports, and monthly third-party attestations (not audits) of reserves.
Hyperliquid user loses $21 million to private key leak
An attacker apparently obtained access to a victim's private key, enabling them to drain $21 million in various crypto assets. The attacker quickly bridged the stolen funds to ETH, then bounced through various addresses in hopes of disguising their origin and making the funds more challenging to recover.
Some originally feared that the theft was enabled by an exploit on Hyperliquid itself, shortly after another Hyperliquid-based project was compromised, but the theft appears to have been a key leak rather than an exploit on the protocol.
Abracadabra loses more "Magic Internet Money" to third hack in two years
In their third major hack in two years, the Abracadabra defi lending project lost $1.8 million of their Magic Internet Money stablecoin. An attacker took advantage of a bug in the project smart contracts to borrow more than their provided collateral would normally allow. The attack was funded via Tornado Cash, and the exploiter then swapped the stolen tokens for ETH and laundered them back through Tornado.
The project disclosed the theft, describing the exploit as affecting "some deprecated contracts". They downplayed the theft, saying they'd bought back the stolen assets using treasury funds.
Abracadabra previously suffered a $13 million theft in March 2025, and a $6.5 million theft in January 2024.
Futureverse announces restructuring two years after raising $54 million
In 2023, there was no shortage of buzzy press coverage for Futureverse, which promised to build a metaverse and gaming-focused blockchain. They partnered with Ready Player One author Ernest Cline to build the "Readyverse". They partnered with the estate of Muhammad Ali to build an "AI-powered" boxing game (with NFTs!) They partnered with Rebook to build a "virtual sneaker design experience", where customers could design sneakers to equip to their Fortnite or Roblox characters. That year, the company had raised $54 million in a Series A round led by 10T Holdings and Ripple Labs. They made even more money from token sales to retail investors.
As recently as this year, Futureverse was earning spots on "most innovative company" lists. In April, they announced they'd be acquiring Candy Digital, an NFT company created by Mike Novogratz, Gary Vaynerchuk, and others (which itself had raised a $100 million series A in 2021, and another funding round in 2023). "NFTs will be back in a big way one of these days", wrote Axios, covering the sale in April 2025.
But now, Futureverse has announced they've "made the difficult decision to begin a restructuring of the business". Focusing only on the AI portion of their business, and conspicuously omitting any mention of blockchains, NFTs, or metaverses, the company says they "recognize that adjustments are needed to ensure the long-term sustainability of our vision."
Futureverse locked comments on the post, likely to try to dodge angry community members who accused the company of stealing from them or rug-pulling.
Hyperdrive lending protocol exploited for $782,000
Exploiters drained $782,000 in crypto assets from two markets on the Hyperdrive lending protocol, which is built on the Hyperliquid layer-1 blockchain. The attacker apparently took advantage of a security flaw in one of the project's smart contracts to drain the funds.
Hyperdrive paused all markets while investigating the vulnerability, and patched the bug. They also compensated those who had lost money in the exploit.
Hypervault rug pulls for $3.6 million
Only days after the Hypervault yield farming platform announced on Twitter that they'd surpassed $5 million in total value locked, the platform suddenly shut down its website and social media accounts. Simultaneously, the crypto security firm PeckShield observed an "abnormal withdrawal" of a large quantity of various crypto assets priced at around $3.6 million, which were swapped to 752 ETH (~$3.1 million) and laundered through Tornado Cash.
The project had attracted customers by advertising yields of 76–95%.
SBI Crypto likely suffers $21 million theft
Crypto sleuth zachxbt observed $21 million in "suspicious outflows" from SBI Crypto, a crypto mining subsidiary of the Japanese SBI Group. The money was quickly laundered through instant exchanges and Tornado Cash, in ways zachxbt observed were similar to tactics of North Korean crypto thieves.
SBI Crypto has not made any public statements addressing the apparent theft.
Griffin AI exploited for $3 million one day after launch
One day after Griffin AI launched its GAIN token on Binance Alpha, an attacker minted 5 billion fake GAIN tokens on the Ethereum blockchain, then exploited a cross-chain endpoint to trick the bridge to the Binance chain into recognizing them as the real thing. The attacker was only able to sell a small fraction of their tokens, but they made off with approximately $3 million as the token plunged in price. According to CEO Oliver Feldmeier, the exploit was enabled by "a misconfigured layer Zero (cross-chain messaging) set-up and compromised key".
Griffin AI promises to allow customers to "build, deploy, and scale autonomous AI agents for crypto finance". These are essentially AI-powered bots that perform various functions — some of Griffin's advertised examples include a "robo-adviser" to provide "tailored investment strategies", and bots to do arbitrage trading or manage staked assets.
Seedify launchpad project suffers bridge exploit
An attacker exploited bridges for SFUND, the token issued by the Seedify launchpad and incubator. It appears the exploiter has profited around $1.7 million from the theft. Seedify issued a statement announcing the theft, and said the bridge contracts that were exploited had been deployed for three years. The SFUND token crashed in price by around 80% before recovering somewhat.
Seedify has been a launchpad for blockchain games, NFT projects, and other web3 products. The team recently has embraced "vibe coding" — a practice in which people rely heavily on AI to generate code.
UXLINK exploited for around $28 million, then hacker gets phished
The "AI-powered web3 social platform" UXLINK was exploited by an attacker that gained control of the project's multisignature wallet, then minted billions of the project's UXLINK token. Though the tokens were worth hundreds of millions of dollars on paper, low liquidity and a crashing token price means the attacker cashed out around $28 million.
Shortly after the hack, the attacker apparently approved a phishing contract, perhaps in their rush to swap tokens before the price crashed further or before exchanges could freeze the tokens. Around 542 million of the UXLINK tokens were sent to a phishing address as a result, though it doesn't appear the phishing wallet has been able to sell the tokens.
Yala stablecoin depegs after $7.6 million theft
The YU bitcoin-backed stablecoin lost its intended dollar peg after what they described as "an attempted attack", later writing that there was an "unauthorized transfer of funds". Although they initially wrote that "All funds are safe", they later stated that they "identified the stolen assets on-chain and are actively working with law enforcement to pursue recovery." Research firm Lookonchain observed a large mint of the YU token that may have been related — if so, the attacker successfully stole at least 1,501 ETH ($6.75 million), and holds a substantial quantity of YU they still haven't sold.
Despite the project's attempted reassurances, the YU stablecoin lost its $1 peg, plummeting as low as around $0.20. As of writing, about a day later, the stablecoin is still well below its peg, at around $0.94.
Shibarium bridge hit with $2.4 million flash loan attack
A bridge for Shibarium, the layer-2 network for the Shiba Inu project, was exploited for approximately $2.4 million in funds. The attacker bought 4.6 million BONE tokens (the governance token for Shibarium) using a flash loan, then used compromised validator signing keys to take control of the majority of validator power. Then, they used that control to drain around 225 ETH and 92.6 billion SHIB, together priced at around $2.4 million at the time of the theft.
The project has paused staking on the network, freezing the BONE tokens borrowed by the attacker, which may limit the attacker's profits.
Thorchain founder exploited for $1.35 million
John-Paul Thorbjornsen, the founder of Thorchain and Vultisig, suffered a wallet drain, reportedly after experiencing a video meeting scam from an attacker who had exploited the Telegram account belonging to one of his friends. According to JP, the scammer used a malicious video call link to place malware on his computer, which then exfiltrated private keys for one of his crypto wallets. Some questioned whether he had made up the story, as he immediately began using the story to promote his Vultisig product.
Later that week, Thorbjornsen apparently suffered another loss — this one confirmed on-chain to be around $1.35 million.
According to crypto sleuth zachxbt, the attackers appeared to be a part of North Korean crypto hacking operations. "JP is one of the people whose has greatly benefited financially from the laundering of DPRK hacks/exploits. So it’s a bit poetic he got rekt here by DPRK," he wrote.
$41.5 million stolen from SwissBorg in Kiln API exploit
Thieves stole 192,600 SOL (~$41.5 million) from a wallet belonging to the Swiss cryptocurrency exchange SwissBorg. The attack is being blamed on a vulnerability in the API of Kiln, a staking partner used for SwissBorg's "Earn" program.
SwissBorg announced that they would be reimbursing impacted customers using treasury funds, and working with security firms and law enforcement to try to recover the stolen assets.
Massive NPM supply chain attack puts crypto transactions at risk
After a JavaScript developer's NPM account was compromised in a phishing attack, attackers used it to upload malicious versions of heavily used JavaScript color and debugging libraries, as well as simple utilities that do things like
strip-ansi or determine if a variable is-arrayish. Altogether, the packages get around two billion downloads per week, and the compromise is being called the "largest supply chain attack in history".Once the malicious code is injected, it then intercepts network traffic and API calls, scanning for cryptocurrency transactions across numerous blockchains. When a network request is made to transfer crypto, the malicious code intercepts it and replaces the destination with wallets controlled by the attackers.
Various prominent people in crypto have warned about the attack, with Ledger CTO Charles Guillemet tweeting: "If you use a hardware wallet, pay attention to every transaction before signing and you're safe. If you don't use a hardware wallet, refrain from making any on-chain transactions for now."
Ultimately, the exploit was not very financially successful, with reports that less than $1,000 was stolen.
Nemo Protocol exploited for $2.4 million
The Nemo Protocol on the Sui blockchain suffered a $2.4 million exploit. The defi yield infrastructure protocol acknowledged the theft shortly after, explaining they had paused the protocol smart contracts as they investigated the theft. It appears the thief was able to manipulate a price oracle, siphoning $2.4 million in USDC from the project. They then bridged the funds from Arbitrum to Ethereum.
Venus Protocol user exploited for $13.5 million; most funds later recovered
A user of the Venus Protocol borrowing and lending platform was successfully phished by an attacker who gained access to their account and drained $13.5 million in stablecoins and wBETH. The user signed a malicious transaction, approving the attacker's address for token withdrawals.
Venus paused the protocol as they investigated the theft. The project then proposed a vote to force liquidation of the attacker's wallet and recover the stolen funds.
Bunni decentralized exchange exploited for $8.4 million
The Bunni decentralized exchange was exploited for approximately $8.4 million across the Unichain Ethereum layer 2 network and the Ethereum mainnet. Bunni acknowledged the theft and paused the protocol shortly after the attack.
Reddit shuts down its NFT avatars project
Three years after launching "Collectible Avatars", the NFT project they didn't want to call "NFTs" because they were already becoming kind of cringe, Reddit has decided to pull the plug. "Well, this is one of those posts. The kind that we hoped we would never have to write," they wrote.
Reddit has ended submissions for new avatars, and will shut down its avatar shop, collection display on profiles, and NFT wallet feature.
The feature is apparently so unused that the shutdown announcement garnered zero comments in the r/CollectibleAvatars subreddit. Besides posts relating to the shutdown, the most recent post in the subreddit was a year old.
This is the second blockchain-based feature Reddit has sunset, following the October 2023 decision to end their "Community Points" feature.
- "Closing up (the) Shop", post on r/CollectibleAvatars [archive]
BetterBank exploited, some funds returned
The PulseChain-based defi project BetterBank was exploited by an attacker who took advantage of a vulnerability that allowed them to mint arbitrary tokens, some of which they then swapped for ETH. The attacker later returned around $2.7 million of the stolen assets, having cashed out around $1.4 million.
The vulnerable smart contract had been audited by cybersecurity firm Zokyo, which claimed they had flagged the issue during an audit. BetterBank responded by claiming that the auditors had either not identified or failed to communicate the true severity of the flaw.
Bitcoiner socially engineered out of $91 million
A bitcoin holder reportedly fell for a social engineering attack after receiving communications from scammers posing as customer support for a crypto exchange and hardware wallet provider, according to crypto sleuth zachxbt. The thieves stole 783 BTC (~$91 million), which they then transferred through the Wasabi mixer to complicate tracing.
BtcTurk apparently hacked again, for $49 million
The Turkish cryptocurrency exchange BtcTurk has apparently been hacked again, as various blockchain security firms observed suspicious withdrawals estimated at around $49 million. BtcTurk later acknowledged it had experienced "unusual activity" in its hot wallets, and had suspended deposits and withdrawals. They did not provide any more details about the scale of the attack.
This is the second BtcTurk exploit, following an approximately $55 million theft in June 2024.
Odin.fun bitcoin memecoin launchpad exploited for more than $7 million
Odin.fun, a bitcoin-based memecoin launchpad sort of like the popular pump.fun, was exploited for 58.2 BTC (~$7 million). The attacker had apparently manipulated the price of various tokens, then withdrew bitcoin based on the inflated prices.
A team member suggested they were unsure of the total amount stolen, "but as of right now, our company treasury isn't big enough to cover the losses".
Monero faces 51% attack
Monero, a privacy-focused blockchain network, has been undergoing an attempted 51% attack — an existential threat to any blockchain. In the case of a successful 51% attack, where a single entity becomes responsible for 51% or more of a blockchain's mining power, the controlling entity could reorganize blocks, attempt to double-spend, or censor transactions.
A company called Qubic has been waging the 51% attack by offering economic rewards for miners who join the Qubic mining pool. They claim to be "stress testing" Monero, though many in the Monero community have condemned Qubic for what they see as a malicious attack on the network or a marketing stunt.
Though Qubic has claimed to have achieved 51% of the Monero hashrate, these claims have been disputed. However, they do appear to be very close if not there already, and there have been multiple chain reorganizations — including a 6-block reorganization — suggesting that Qubic has established significant control over Monero mining.
Memecoin promoters allegedly responsible for throwing sex toys at WNBA games
A group of crypto enthusiasts promoting a memecoin have claimed responsibility for a string of incidents in which neon green sex toys were thrown onto professional women's basketball courts during at least six WNBA games since July 29. The group described the stunts as coordinated "pranks" intended to draw attention to the coin, in an ecosystem where memecoin prices are often heavily tied to virality.
The incidents have been widely condemned as both dangerous and misogynistic by players, coaches, and the league, which has since implemented penalties including immediate ejection, a minimum one-year ban, and possible felony charges for offenders.
"It's super disrespectful," said Chicago Sky player Elizabeth Williams. "The sexualization of women is what's used to hold women down, and this is no different," stated coach Cheryl Reeve of the Minnesota Lynx. "The intent is to sexualize and demean the women players because they are women," wrote Glamour.
"This is empowering to every fucking crypto community to start thinking outside the box. Get creative and fucking do something that makes people actually laugh," said a member of the memecoin community, cheering the incidents for their virality and the subsequent impact on the coin price. The meme was even amplified by Donald Trump Jr., who posted to Instagram a photoshopped image of President Trump dropping one of the green sex toys off the roof of the White House and onto a group of women playing basketball below.
Traders lose $1 million to malicious "trading bot" software
Scammers using AI-generated YouTube videos to promote supposedly profitable crypto bot software have convinced crypto users to deploy what is, in reality, malicious code that allows scammers to siphon funds from their wallets. The free software supposedly allows anyone to run MEV bots to profit from arbitrage strategy, but the obfuscated code people are encouraged to download and deploy is actually malicious.
Researchers at Sentinel Labs have estimated that more than $1 million has been drained from various wallets via these malicious contracts.
Credix vanishes after $4.5 million exploit
The defi lending protocol Credix lost $4.5 million to an exploit after a hacker gained control of an admin wallet and used it to mint tokens and drain liquidity pools.
Credix subsequently announced they had negotiated with the thief, who they said agreed to return the funds "in return for money fully paid by the credix treasury". They did not disclose how much they paid to the hacker.
However, shortly after this announcement, the company deleted its social media accounts and disappeared, leading some to wonder if the "hack" may have in fact been a rug pull by insiders. The promised reimbursements have not yet materialized.
Crypto lender Abra pauses withdrawals for international customers
The Abra cryptocurrency lender sent an email to customers announcing that "Abra Earn international services are currently paused, effective immediately", attributing the decision to "broader risk management efforts" and saying it was "influenced by external circumstances outside of our control". This has raised concern among Abra customers, and carries troubling echoes of the wave of crypto lenders pausing withdrawals before they collapsed during the 2022 "crypto winter".
This isn't the first sign of shakiness at Abra, which was alleged to be insolvent by the Texas state securities regulator in 2023. The company wound down its US operations in mid-2023 and refunded $82 million to US customers, after reaching a settlement with 25 state regulators. Abra also faced a lawsuit from the US federal securities regulator in 2024, which they settled in August of that year.
$731,000 stolen in SuperRare hack
Customers of WOO X lose $14 million after exchange compromise
Attackers who compromised devices belonging to a WOO X employee stole $14 million from users of the Taiwanese WOO X cryptocurrency exchange. The phishing attack on the employee gave the hackers access to a development environment, according to statements from WOO X, and the hackers were then able to make withdrawals from customer accounts.
WOO X temporarily froze withdrawals, before reopening accounts after a security review. They offered a 10% "bounty" to the thief.
CoinDCX hacked for $44 million
The Indian cryptocurrency exchange CoinDCX was hacked, with attackers stealing around $44 million. The company announced the breach the following day, attributing it to a "sophisticated server breach" and claiming that only company funds were impacted.
BigONE hacked for over $27 million
The BigONE cryptocurrency exchange was hacked for more than $27 million, which the hacker quickly swapped for various other tokens. The attacker compromised one of the exchange's hot wallets after gaining access to the company's production network. BigONE stated they would fully cover the loss.
Blockchain security researcher zachxbt responded to the hack by saying, "I do not feel bad for the team as this CEX processed a good bit of volume from pig butchering, romance, investment scams." Elsewhere he suggested that hacks of "sketchy offshore exchanges" would be a positive for the crypto industry, serving as a "natural cleanse".
Arcadia Finance exploited for $3.5 million
The Arcadia Finance defi margin protocol was exploited for $3.5 million after an attacker found a vulnerability in a project smart contract. The attacker quickly swapped the stolen tokens and bridged them from Base to the Ethereum mainnet. The attacker stole the funds in two separate transactions that were more than four hours apart.
Arcadia is backed by Coinbase Ventures. The project acknowledged the hack, encouraging users to revoke permissions.
MoonPay apparently gets scammed out of a $250,000 donation to Trump inaugural fund
In a seizure request filed by the DC Attorney General, the Justice Department outlined how a Nigerian scammer used the classic "lowercase Ls look like uppercase Is" trick to steal $250,000 — apparently from the MoonPay crypto exchange. Using the email address steve_witkoff@t47lnaugural.com, the scammer directed "Ivan & Mouna" to deposit $250,000 in Tether to a specified wallet address. Mouna then replies to confirm the transaction, providing a link to a blockchain explorer. The FBI was only able to recover around 16% of the stolen funds, issuing seizure requests to Tether and Binance that regained control of $40,353.
As it happens, "Ivan & Mouna" match the names of MoonPay CEO Ivan Soto-Wright and CFO Mouna Siala. The crypto address used to send the transaction also appears to be one of MoonPay's company crypto wallets.
MoonPay had told Fox Business shortly before the transaction that they intended to contribute an undisclosed amount to the Trump inaugural fund.
Only weeks after the botched donation, MoonPay was selected as a payment processor for Trump's $TRUMP memecoin.
- "The DOJ Seemingly Outed Top Crypto Executives as Falling for a Nigerian Crypto Scam", NOTUS [archive]
- Complaint in US v. Approximately 40,353 USDT.ETH Cryptocurrency [archive]