The crypto space saw over $120 million in losses in September due to more than 20 hacking incidents. Major incidents targeted platforms like BingX, Penpie, and Indodax.
Major Incidents
According to data from PeckShield, the hardest-hit was the Singapore-based cryptocurrency exchange BingX with over $40 million in losses, followed by Penpie at $27 million, and Indodax, which lost over $21 million. Other incidents included DeltaPrime with $5.98 million stolen, and Truflation with $5.6 million in losses.
Phishing Attacks and Partial Returns
A phishing attack targeting $spWETH signatures resulted in an additional $32.4 million drain, though these figures were excluded from the overall tally. Partial funds were returned in the Shezmu hack, which saw $4.9 million stolen. Smaller hacks also impacted Onyx, BananaGun, Bedrock, and CUT, with losses ranging from $1.4 million to $3.8 million.
Q3 Summary
Despite the significant losses, overall damage from crypto hacks was markedly lower compared to August, when the industry lost over $300 million in just 10 incidents. According to a report from Immunefi, nearly $413 million was lost in Q3. Of that, $409.9 million was due to hacks across 31 specific incidents, and $3,087,552 was lost to fraud across only three incidents.
The main target of successful executes was centralized finance, which accounted for nearly 75% of the total losses, compared to decentralized finance at 25.2%. The most attacked blockchain network was Ethereum, followed by BNB Chain and Coinbase’s Base network.
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