Crypto Hacks Soar 462% in September, Bitget and Liquid Network Suffer Major Losses

Crypto hacks saw a significant surge in September, with a total of $766.49 million lost across 55 major incidents, according to PeckShield. This represents a 462% increase from August's losses of $136.3 million. The Bitget and Liquid Network breaches dominated the month, with losses totaling $387 million and $320 million, respectively. However, $285 million of the Liquid Network theft was recovered.

The two major hacks, which are now the largest and second-largest crypto thefts of the year to date, accounted for nearly all of the losses. When excluding these incidents, the remaining 53 hacks total around $59 million, less than half of August's losses. PeckShield noted that Bitget's security systems flagged unauthorized transfers from its hot wallets on September 24, while Liquid Network suffered a theft on September 6.

SlowMist reported that North Korea-linked hackers are laundering the stolen Bitget funds through CoW Protocol and Chainflip, converting the proceeds to BTC and using CoinJoin to obscure the movements. Chainflip is attempting to block these flows and has rejected at least one deposit.