September Sees $766M in Cryptocurrency Hack Losses
- The crypto industry experienced 55 major hacking attacks in September.
- Total losses reached $766.49 million, a rise of 462% from August’s $136.3 million.
- The Bitget hack was the largest, estimated at approximately $388 million.
- A withdrawal of about 4,000 BTC from the Liquid Network accounted for around $320 million in losses.
- Together, incidents involving Bitget and the Liquid Network made up over 90% of September’s total losses.
The significant increase in hacking incidents highlights vulnerabilities within the cryptocurrency sector, particularly with major exchanges and networks like Bitcoin. The Bitget incident alone accounted for nearly half of the total losses reported in September.
In summary, September marked a record month for cryptocurrency hacks with losses exceeding $766 million, primarily driven by attacks on Bitget and the Liquid Network.(Source)
