Cryptocurrency theft losses exceeded $120 million in September

Losses caused to various crypto platforms, such as Penpie, Indotax, and BingX, through hacks and exploits during the month of September exceeded $120 million.

In September, various high-profile attacks were carried out on various cryptocurrency platforms, with devastating effects. “The hardest hit was against BingX, a Singapore-based exchange, which lost around $44 million in a single incident, placing itself as the most affected platform in September. This attack highlights previous vulnerabilities in their security infrastructure and represents a considerable portion of the $409 million stolen by hackers in the third quarter of 2024.”

In the case of Penpie, a decentralized finance (DeFi) protocol, the losses were quantified at $27 million. Then there is Indotax, one of the largest cryptocurrency exchanges in Indonesia, with the theft of $21 million.

The trend in the increase of attacks on crypto platforms in the Asian region worries the different exchanges due to the vulnerability that makes them a “common target for hackers who exploit security gaps in these rapidly growing markets.”

Other major incidents were recorded during September 2024, including the one perpetrated on DeltaPrime, with losses of almost $6 million; Truflation, “which reported a theft of $5.6 million.

Additionally, smaller platforms such as Shezmu, Onyx, BananaGun, Bedrock, and CUT also suffered attacks, with losses ranging from $1.4 to $4.9 million.”

One of the most serious attacks recorded last month was via phishing, and reached $32.4 million “via $spWETH signatures. Although this incident was not included in the official figures reported by PeckShield.”

M.Pino

Source: beincrypto

(Reference image source: Getty Images for Unsplash+)

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