Crypto Theft Epidemic Hits Record Levels

Crypto thefts have surged to record levels, with a 462% month-over-month increase in losses. According to PeckShieldAlert, the industry experienced 55 major hacks in September, resulting in a staggering $766.49 million in losses. The Bitget incident and the Liquid Network theft have taken the top spots among the largest crypto thefts of the year to date, with losses of $387 million and $320 million, respectively.

The Bitget incident, which occurred in September, saw the exchange lose $387 million to hackers. The Liquid Network theft, also in September, resulted in losses of $320 million, with $285 million of that amount returned. Other notable incidents include an MEV bot yoink front-run at $7.81 million and a Duelbits hack at $7 million, both of which saw partial recoveries.

The top 10 list of crypto thefts also includes Payment Processor V2, which lost $6.6 million, with $3.4 million returned, and DCENT Wallet, which lost $6.57 million. Astroport and Drop also experienced significant losses, at $4.9 million and $4.4 million, respectively.