Penpie

Prime

Delta

Shezmu

According to Binance’s crypto report, several firms lost over $116 million to crypto hacks in September alone. This figure is more than eight times the value lost in August. Centralized exchanges were the primary targets, with over 20 hacks. 
<h3 id="span-style-font-weight-400-bingx-indodax-and-penpie-top-the-list-of-most-affected-crypto-exchanges-in-september-s-hacks-span">BingX, Indodax, and Penpie top the list of most affected crypto exchanges in September’s hacks</h3> 
Out of all affected crypto exchanges, centralized platform BingX suffered the largest hit, losing over $44 million.&nbsp;On September 19, various security firms began reporting on the millions being siphoned out of the Singapore-based exchange, leading the company to <a href="https://x.com/BingXOfficial/status/1836938477570773470" rel="nofollow" target="_blank">announce</a> a temporary pause in operations for ‘wallet maintenance.’ 
Later, the exchange <a href="https://support.bingx.com/hc/en-001/articles/37918505986585-Notice-on-the-Wallet-Maintenance" rel="nofollow noopener" target="_blank">reassured</a> users that refunds would be provided, describing the asset loss as ‘minor.’ In addition to BingX’s losses, decentralized exchange PenPie lost $27 million in a hacker exploit of its reward system, while Indodax had over $21 million drained. DeFi platform Delta Prime followed the trio, losing nearly $6 million.&nbsp; 
Truflation and Bedrock, on the other hand, lost $5.6 million and $1.75 million, respectively.&nbsp;Caterpillar coin (CUT) also suffered a $1.4 million loss in a flash loan attack. 
Multi-asset lender Shezmu was also hacked, initially losing over $4.98 million. However, unlike its counterparts, the company was able to recover some of the stolen funds in an on-chain negotiation with the hacker. 
<h3 id="span-style-font-weight-400-crypto-exchanges-have-lost-over-1-3-billion-since-the-year-s-start-span">Crypto exchanges have lost over $1.3 billion since the year’s start</h3> 
According to Binance’s data, <a href="https://public.bnbstatic.com/static/files/research/monthly-market-insights-2024-10.pdf" rel="nofollow noopener" target="_blank">over $1.3 billion</a> has been drained from crypto wallets since the start of the year. Over $133 million was lost to hackers in January and another $79 million in February.&nbsp;In March, more than $133 million was stolen, bringing the total loss to nearly $350 million in just the first quarter. 
<figure id="attachment_597304" aria-describedby="caption-attachment-597304" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class="wp-image-597304 size-full" src="https://www.cryptopolitan.com/wp-content/uploads/2024/10/Crypto-hacks-explode-8x-in-just-one-month—116M-stolen-in-September-alone.png" alt="Crypto hacks explode 8x in just one month—$116M stolen in September alone" width="803" height="588" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/10/Crypto-hacks-explode-8x-in-just-one-month—116M-stolen-in-September-alone.png 803w, https://www.cryptopolitan.com/wp-content/uploads/2024/10/Crypto-hacks-explode-8x-in-just-one-month—116M-stolen-in-September-alone-300x220.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/10/Crypto-hacks-explode-8x-in-just-one-month—116M-stolen-in-September-alone-768x562.png 768w" sizes="(max-width: 803px) 100vw, 803px">
 <figcaption id="caption-attachment-597304" class="wp-caption-text">
 Source: Binance
 </figcaption>
</figure> 
In April, hacker exploits reduced significantly, with criminals getting away with only $73 milllion. However, moving into May, the crypto industry faced the highest loss of the year, with nearly $360 million drained. DMM Bitcoin, a Japanese trading platform, saw a single loss of over $305 million, more than three-quarters of the total losses in May. 
June saw another $142 million loss, and July recorded the second-highest drain after May, with $282 million gone. WazirX, an Indian exchange, suffered the most, losing over $235 million in July alone.

Crypto hacks explode 8x in just one month—$116M stolen in September alone

Table of Contents

Cryptopolitan_News

Other articles published on Oct 6, 2024

EOS Network Hits New All-Time High in Total Value Locked (TVL)

Analysts Predict Bitcoin and Altcoin Trends

Bitcoin: Fear & Greed Index Plummets into Fear!

Daily Market Review: BTC, ETH, FTT, CFX, LTC

Recent Developments Cast Doubt on Len Sassaman as Satoshi Nakamoto

Qubetics Hits 1M Dollar In Presale, While Zebec Protocol Grows In Market & Trump’s Crypto Platfor...

Join our free newsletter for daily crypto updates!