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 In September 2024, cryptocurrency platforms faced significant security breaches, resulting in losses of over $120 million from more than 20 hacks,<a style="color: #0000ff;" href="https://x.com/PeckShieldAlert/status/1840945999306735725"> according to blockchain forensic firm PeckShield</a>. 
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 The attacks targeted both centralized and decentralized platforms, with exchanges like BingX, Penpie, and Indodax among the most affected. 
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 <a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw">#PeckShieldAlert</a> September 2024 saw 20+ hacks in the crypto space, leading to ~$120.23 million in losses. (Note: The $32.4 million worth of <a href="https://twitter.com/search?q=%24spWETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$spWETH</a> drained in a Permit signature <a href="https://twitter.com/hashtag/phishing?src=hash&amp;ref_src=twsrc%5Etfw">#phishing</a> is not included)<a href="https://twitter.com/hashtag/Top?src=hash&amp;ref_src=twsrc%5Etfw">#Top</a> 10 Hacks in September 2024:<a href="https://twitter.com/hashtag/BingX?src=hash&amp;ref_src=twsrc%5Etfw">#BingX</a>: $44 million<a href="https://twitter.com/hashtag/Penpie?src=hash&amp;ref_src=twsrc%5Etfw">#Penpie</a>: $27 million… <a href="https://t.co/t2YuvIds6u">pic.twitter.com/t2YuvIds6u</a> 
 — PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1840945999306735725?ref_src=twsrc%5Etfw">October 1, 2024</a>
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BingX and Indodax were the hardest hit, contributing to more than half of the total losses. BingX alone suffered a $40 million loss, while Indodax reported $22 million in damages. Despite these incidents, the losses<a style="color: #0000ff;" href="https://x.com/PeckShieldAlert/status/1830100798338224548"> marked</a> the second-lowest month for hacks in 2024, trailing only April. Overall, losses in September were down 61.7% from August, when hackers stole nearly $314 million from various platforms. 
In total, the cryptocurrency space saw losses of approximately $413 million in the third quarter, as per a<a style="color: #0000ff;" href="https://downloads.ctfassets.net/t3wqy70tc3bv/4wrLxaFvKa4NQXA43uPWri/80111984054b3b959e4e2a918537f233/Immunefi_Crypto_Losses_in_Q3_2024.pdf"> report</a> from web3 bug bounty platform Immunefi. Several DeFi protocols were also affected. Penpie, a prominent DeFi protocol, was<a href="https://defi-planet.com/2024/09/penpie-protocol-hacker-reportedly-laundered-7m-through-tornado-cash-within-12-hours-of-27m-theft/"> exploited</a> for $27 million. Other significant breaches included<a style="color: #0000ff;" href="https://defi-planet.com/2024/09/deltaprime-suffers-5-93m-crypto-loss-in-suspected-private-key-leak/"> Delta Prime</a>, which lost $5.9 million, Truflation with<a style="color: #0000ff;" href="https://x.com/truflation/status/1839043719124889963"> $5.6 million</a> in losses, and Bedrock, which<a style="color: #0000ff;" href="https://x.com/Bedrock_DeFi/status/1839479965685100780"> suffered a $2 million</a> theft. 
Some platforms, however, managed partial recoveries. Crypto lending platform Shezmu, initially<a style="color: #0000ff;" href="https://x.com/shoucccc/status/1837228053862437244"> hacked</a> for $5 million, recovered some of the stolen funds after engaging directly with the hacker via the blockchain. Additionally, the Telegram bot Banana Gun, which lost $3 million, has pledged to reimburse traders impacted by the breach. 
One of the more recent incidents occurred on September 27, 2024, when Bedrock, a multi-asset liquid staking protocol,<a style="color: #0000ff;" href="https://defi-planet.com/2024/09/liquid-restaking-protocol-bedrock-hit-by-2m-exploit/"> reportedly suffered</a> a security exploit involving its uniBTC asset. The Bedrock team confirmed the $2 million loss and reassured users that the breach had been contained. They stated that the protocol is now focused on identifying the root cause and plans to implement a reimbursement strategy for affected users. 
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The post <a href="https://defi-planet.com/2024/10/crypto-platforms-report-120m-in-losses-from-over-20-hacks-in-september/">Crypto Platforms Report $120M in Losses from Over 20 Hacks in September</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Crypto Platforms Report $120M in Losses from Over 20 Hacks in September

DeFi Planet

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