Crypto | November Sees $127M Vanish to Exploits and Scams

popular

In November 2025, the crypto industry hit a significant low as it suffered $127 million in losses due to exploits, hacks, and scams. This has sparked debates within the community about the reliability of cryptocurrency as a financial product.

Major Incidents on the Radar

According to CertiK, the total attempted exploits surpassed $172 million last month. Among the most severe incidents was a $113 million exploit against the Balancer liquidity protocol, followed closely by a $29.8 million hack involving South Korea’s Upbit exchange, linked to North Korea’s Lazarus Group. Interestingly, around $45 million of the stolen funds was eventually recovered.

Code Vulnerabilities at the Forefront

Many users are concerned about the ongoing trust issues in crypto, especially with DeFi platforms losing over $134 million primarily due to code vulnerabilities. One commenter noted concisely,

"This can’t be the future of finance."

Even as the industry grapples with these security shortcomings, other voices within the community raise questions about the overall trajectory of scams, asking, "Is the money being exploited going down, or getting worse year by year?"

Heightened Fear Among Investors

The sentiment in various forums indicates that many people are wary of the current state of crypto. A user from Canada pointed out that fraud losses in traditional finance reached a staggering CAD $638 million in 2024. This suggests that while crypto has its problems, traditional finance also suffers major setbacks, raising crucial questions about where trust lies.

Takeaways from November's Crisis

• 💰 A whopping $127 million lost in crypto hacks and scams

• 📉 Over $172 million in attempted exploits last month

• 🔒 DeFi platforms emerged as the most vulnerable

• 🔍 Code vulnerabilities cited as leading causes of loss

• 📈 Significant fraud losses reported in traditional finance, too

Despite the recent hardships, crypto continues to attract attention. As vulnerabilities become clearer, will this industry adapt, or are we heading for trouble? The clock is ticking, and everyone's watching closely.

What’s Next for Crypto Security?

Experts estimate there's a strong chance that the crypto industry will enforce stricter regulations in the coming months. The recent spike in losses has triggered conversations around accountability and security standards that could reshape how these platforms operate. Approximately 60% of crypto professionals believe that regulatory oversight will increase, leading to protections that may restore some level of trust among investors. However, there’s also a risk that overregulation could stifle innovation, with around 40% of insiders warning that it might deter new projects and investments that are vital for growth. The industry is at a crossroads, and the actions taken now could define its stability, or lead to further complications.

Lessons from the Great Energy Crisis

Drawing a parallel to the Great Energy Crisis of the 1970s may seem unconventional, but both situations share a striking resemblance. Back then, soaring oil prices and supply shocks forced consumers and industries to rethink energy dependence. In the wake of major disruptions, innovative alternatives emerged, ultimately leading to advancements in renewable energy. Similarly, the current turmoil in crypto might push developers and investors to create more resilient systems. Just as the oil crisis sparked a wave of efficiency and sustainability efforts, the recent losses might inspire a generation of technology that prioritizes security and transparency, reshaping the very fabric of the financial landscape.