Blockchain security firm Hacken reported that $1.18 billion was stolen across 107 separate incidents during the third quarter of 2025, a set of figures that highlights how frequently attacks continue to hit the cryptocurrency ecosystem, touching projects and individual users alike.

Hacken, a company specializing in blockchain security auditing, released its 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 indicates that the quarter's losses were not limited to one or two large breaches but were spread across many separate events.

What $1.18 Billion Across 107 Incidents 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, while the 107 incidents represent how many separate attacks or exploits Hacken recorded over the quarter — an average pace of slightly more than one recorded attack per day.

Dividing $1.18 billion across 107 incidents produces an average loss of approximately $11 million per event. That average masks wide variation: in any given quarter, a small number of large exploits typically account for the bulk of losses, while the majority of incidents are smaller in scale. The information available from Hacken's report does not break down that distribution, so the average should be read as context rather than as a typical outcome.

For anyone who holds crypto — whether funds sit 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 but a recurring feature of the crypto landscape, with targets ranging from large decentralized finance (DeFi) protocols, which are automated programs that run on blockchains, down to individual wallets.

Concerns about wallet security have been growing alongside theft reports. A separate review of crypto scam losses and wallet protection tools found that annual scam losses had reached $3.1 billion — a figure that measures losses to scams rather than direct thefts from attacks, and covers a full year rather than a single quarter — underscoring that Hacken's Q3 figure sits within a much larger ongoing problem.

Steps for Users and Projects

Hacken's Q3 figures are a prompt, not a prediction. No security report can determine whether a specific wallet or protocol will be targeted. What the data can do is reinforce 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 recovery phrases and keys is equally critical. These credentials grant complete access to a wallet, and the three most common ways attackers gain access are storing them digitally, sharing them with others, or entering them into an unfamiliar website. 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 and direct messages, or set up convincing fake websites that prompt users to connect their wallets or enter credentials. Users are advised to bookmark the official URLs of the exchanges and protocols they use regularly and to treat any unsolicited message asking them to take action on their wallet with suspicion.

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 and Custody Considerations

Regulatory interest in crypto security is also rising. Policy discussions over how exchanges and protocols should handle user protection are ongoing, including calls for updated SEC rules covering crypto platforms. The regulatory environment around crypto security disclosures is still evolving, and current protections vary widely depending on the platform and jurisdiction.

Custody arrangements matter as well. When a centralized exchange holds a user's crypto, the user is relying on that exchange's security practices. When crypto is held in a self-custody wallet, security is the holder's responsibility. Neither model is universally safer, but understanding which model applies helps users know what questions to ask and what risks they carry. Increasing scrutiny of external wallet transfers by 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. More than 100 incidents in a single quarter means 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. With Hacken reporting on a quarterly cycle, the next set of figures will show whether the pace recorded between July and September carried into the final months of the year.

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.