Crypto Hack Losses Exceed $120 Million in September, PeckShield Reports
Date: 2024-10-01 Author: Henry Casey Categories: BUSINESS
Cryptocurrency hack losses in September amounted to more than $120 million, according to blockchain investigation company PeckShield. More than 20 major incidents were recorded, although this is 61.76% less than in August.
The most serious attacks were on platforms such as crypto exchange BingX, which lost over $40 million, and Penpie, which suffered losses of $27 million. The third largest victim was Indodax, which lost more than $21 million. Other incidents include DeltaPrime ($5.98 million) and Truflation ($5.6 million).
Of particular note is the phishing attack that resulted in the theft of $32.4 million using $spWETH signatures. However, this amount was not included in the overall loss statistics. In some cases, part of the stolen funds was returned, as in the case of the Shezmu attack, where $4.9 million was stolen.
Onyx, BananaGun, Bedrock, and CUT were also affected, with losses ranging from $1.4 to $3.8 million.
Despite the significant losses, the total amount of losses for the month was significantly lower than in August, when more than $300 million was lost as a result of 10 incidents. According to a report from the Immunefi platform, total losses from hacker attacks in the third quarter amounted to almost $413 million.
Of these funds, more than $409.9 million was lost as a result of 31 hacker attacks, and $3.08 million was lost due to fraudulent activities. The main losses were suffered by WazirX, an Indian crypto exchange that lost $235 million, and BingX.
Immunefi experts note that centralized financial platforms suffered more from hacker attacks than decentralized ones, accounting for about 75% of all incidents. The most frequently attacked blockchains were Ethereum (15 cases), as well as the BNB Chain and Coinbase Base networks.
