September Sees Record Crypto Hacks Totaling $766M

Crypto hacks reached an alarming high in September, totaling $766.49 million in losses according to PeckShield's count of 55 major incidents.

The two largest breaches occurred at Bitget and Liquid Network, accounting for nearly all the losses with totals of around $387 million and $320 million respectively.

While these figures far surpass those seen in August, with a 462% increase, removing them from the total reduces the remaining hacks to just under $59 million.

Liquid Network's loss was attributed to white-hat hackers withdrawing 4,000 BTC on September 6 using the SideSwap peg-out authorization key.

Bitget's CEO Gracy Chen confirmed that security systems detected unauthorized transfers from hot wallets on September 24 and noted that cold wallets were not compromised.