The cryptocurrency sector experienced a significant security crisis in November 2025, with hacks and exploits surging by nearly 1,000% compared to the previous month. Forensic analysis by blockchain security firm CertiK reveals that smart contract vulnerabilities played a crucial role in these incidents, surpassing phishing as the dominant attack vector. The losses reached a staggering $127 million, primarily attributed to exploits targeting popular decentralized finance (DeFi) platforms such as Balancer and Upbit, which sustained substantial financial losses of $113 million and $30 million respectively. CertiK’s findings indicate a dramatic shift in the threat landscape, with smart contract flaws now posing a more significant challenge than traditional phishing attacks.