September saw $766 million wiped out in crypto hacks—a 462% jump from August.
PeckShield logged 55 crypto hacks in September, totalling $766.49 million—462% higher than August’s $136.3 million.
Bitget ($387 million) and Liquid Network ($320 million, $285 million returned) represent almost all of the loss.
Bitget’s security systems flagged unauthorized transfers at 18:31 UTC on Sept 24, after which the attacker breached a backend wallet system, spoofed transaction data, and avoided cold‑wallet exposure; the $464 million User Protection Fund will cover the loss.
Liquid Network’s Sept 6 incident withdrew ~4,000 BTC via the SideSwap peg‑out key; the hacker’s promise to return funds after node patches was disputed by Ledger CTO Charles Guillemet.
SlowMist linked North Korea‑associated actors to laundering Bitget proceeds through CoW Protocol and Chainflip, highlighting gaps in AML automation.
What steps should exchanges prioritize to prevent similar large‑scale breaches?
#Crypto #CyberSecurity #FinTech #CryptoHacks
PeckShield logged 55 crypto hacks in September, totalling $766.49 million—462% higher than August’s $136.3 million.
Bitget ($387 million) and Liquid Network ($320 million, $285 million returned) represent almost all of the loss.
Bitget’s security systems flagged unauthorized transfers at 18:31 UTC on Sept 24, after which the attacker breached a backend wallet system, spoofed transaction data, and avoided cold‑wallet exposure; the $464 million User Protection Fund will cover the loss.
Liquid Network’s Sept 6 incident withdrew ~4,000 BTC via the SideSwap peg‑out key; the hacker’s promise to return funds after node patches was disputed by Ledger CTO Charles Guillemet.
SlowMist linked North Korea‑associated actors to laundering Bitget proceeds through CoW Protocol and Chainflip, highlighting gaps in AML automation.
What steps should exchanges prioritize to prevent similar large‑scale breaches?
#Crypto #CyberSecurity #FinTech #CryptoHacks
