October 2025 marked a historic turning point in cryptocurrency security, as reported losses from hacks and exploits dropped dramatically by 85.7%, totaling just $18.18 million across 15 incidents. This significant decline stands in stark contrast to September’s staggering $127 million in stolen funds, indicating a potential shift in the landscape of digital asset security.
The latest data tracked by blockchain security firm PeckShield underscores this trend, revealing that October was the safest month for cryptocurrency security all year. Despite the marked decrease in thefts, three major breaches stood out, accounting for the majority of October’s losses.
Leading the charge was Garden Finance, which suffered a catastrophic breach on October 30, with $11 million drained after a compromise involving one of its solvers. This incident alone accounted for more than half of the month’s total losses. In the absence of this breach, October would have recorded a mere $7.18 million in losses—the lowest monthly total since early 2023.
Other notable hacks included Typus Finance, which fell victim to an oracle manipulation attack on October 15, resulting in a loss of approximately $3.4 million. Following the breach, Typus Finance’s native token plummeted by about 35%, reflecting the immediate impact of such security incidents on market confidence.
Abracadabra, a well-known DeFi lending platform, faced its third exploit since its inception, losing around $1.8 million in MIM stablecoin due to a smart contract vulnerability that allowed hackers to bypass solvency checks. These incidents highlight the persistent security challenges that DeFi protocols continue to confront.
Adding to the month’s complexities, October 10 witnessed a massive market crash, erasing over $20 billion in leveraged positions within hours—the largest liquidation event recorded in the history of cryptocurrencies. This event overshadowed the monetary losses from security breaches, presenting a dual challenge for investors and developers.
Despite the encouraging statistics of decreased hack activity, cybersecurity experts caution against complacency. The decline may be temporary, especially as state-sponsored hacking groups, such as those with ties to North Korea, are reportedly testing new attack methods that aim to embed malicious code directly into blockchain networks, circumventing traditional security measures.
As these threat actors evolve, they continue to pose a significant risk to the stability of decentralized systems. Cybersecurity professionals highlight that while DeFi protocols are strengthening their defenses, hackers are equally adaptive, ensuring that the battle between security and vulnerability remains an ongoing concern.
The temporary halt in hacks may also correlate with the reduced on-chain transactions during periods of market volatility, limiting the opportunities presented to cybercriminals.
While October’s figures offer a sense of relief to the crypto community, the potential for future threats remains. Continued vigilance and investment in security protocols will be crucial to safeguarding assets as the market navigates these turbulent waters.
