Crypto Projects Suffer $120 Million Loss from September Hacks

In September, over 20 hacker attacks resulted in losses of approximately $120.23 million for the crypto industry, according to data from PeckShield.

#PeckShieldAlert September 2024 saw 20+ hacks in the crypto space, leading to ~$120.23 million in losses. (Note: The $32.4 million worth of $spWETH drained in a Permit signature #phishing is not included)#Top 10 Hacks in September 2024:#BingX: $44 million#Penpie: $27 million… pic.twitter.com/t2YuvIds6u

— PeckShieldAlert (@PeckShieldAlert) October 1, 2024

Experts from the company did not include the theft of 12,083 spWETH, valued at about $32.4 million, which occurred due to a user signing a malicious transaction.

The largest breaches in the sector for the month were:

• BingX exchange with a loss of $44 million;
• DeFi protocol Penpie ($27 million);
• Indodax platform ($22 million).

These three incidents accounted for over 77% of the total losses. The top 10 also included attacks on:

• DeltaPrime — $5.98 million;
• Truflation — $5.6 million;
• Shezmu — $4.9 million (some funds were recovered);
• Onyx — $3.8 million;
• BananaGun — $3 million;
• Bedrock — $1.75 million;
• CUT — $1.4 million.

According to PeckShield analysts, at least the hackers behind the Penpie and DeltaPrime breaches used the crypto mixer Tornado Cash to launder large sums in Ethereum.

Earlier, in the third quarter, the crypto industry suffered over $413 million in losses from 34 hacking and fraud incidents, as calculated by Immunefi.