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.
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.
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.