Penpie

Pendle

Midas

Polygon (Old)

Shiba Inu

Blockchain security firm PeckShield has reported that the crypto space suffered more than 20 hacking incidents in September 2024.
According to the company, these events <a href="https://x.com/PeckShieldAlert/status/1840945999306735725" target="_blank" rel="noopener noreferrer nofollow">caused</a> about $120.23 million in losses, excluding $32.4 million worth of Spark Wrapped Ethereum (spWETH) drained in a phishing attack on September 27.
<h2 id="bingx-penpie-and-indodax-suffer-the-most">BingX, Penpie, and Indodax Suffer the Most</h2>
CryptoPotato reported on some of the largest hacks of the last month, including a $44 million breach at <a href="https://cryptopotato.com/singapore-crypto-exchange-bingx-suffers-hot-wallet-exploit-over-52m-reportedly-stolen/" target="_blank" rel="noopener noreferrer nofollow">BingX</a>, a $27 million loss at <a href="https://cryptopotato.com/penpie-defi-platform-reportedly-hit-with-27-million-security-breach/" target="_blank" rel="noopener noreferrer nofollow">Penpie</a>, and a $21 million hit on <a href="https://cryptopotato.com/indonesias-largest-centralized-exchange-suffers-18-million-exploit-report/" target="_blank" rel="noopener noreferrer nofollow">Indodax</a>.
In the BingX incident, which occurred on September 20, PeckShield alerted the public about an initial $13.5 million outflow it deemed suspicious. However, after further investigation, several on-chain security experts gave different estimations of the loss, ranging between a low of $44 million and a high of $52 million.
In a subsequent response to the attack, the Singapore-based exchange assured users that it would cover the losses, which it described as “minor.”
The Penpie case was one of the earliest of the month, occurring on September 3. A <a href="https://blog.penpiexyz.io/penpie-post-mortem-report-1ac9863b663a" target="_blank" rel="noopener noreferrer nofollow">post-mortem</a> revealed that the criminal exploited a reentrancy protection vulnerability on the platform, allowing them to register a fake Pendle market. They used this to manipulate the platform’s reward system, ultimately making off with 11,113.6 ETH.
The incident also featured a bit of drama on the side when the person suspected to have been behind the $200 million <a href="https://cryptopotato.com/massive-200-million-exploit-euler-finance-suffers-a-flash-loan-attack/" target="_blank" rel="noopener noreferrer nofollow">Euler hack</a> in 2023 reached out to the Penpie attacker to <a href="https://cryptopotato.com/euler-finance-exploiter-congratulates-penpie-hacker-for-stealing-27-million/" target="_blank" rel="noopener noreferrer nofollow">congratulate</a> them on their exploit, urging them not to return a single cent of the stolen money.
Indonesian crypto exchange Indodax was also among the most heavily affected by last month’s criminal activities. In that exploit, the perpetrator reportedly breached the platform’s withdrawal system and stole large amounts of Bitcoin (BTC), Tron (TRX), Polygon (MATIC), and Shiba Inu (SHIB).
<h2 id="smaller-hacks">Smaller Hacks</h2>
Other platforms that were affected on a relatively smaller scale by the September crypto breaches include DeltaPrime, which lost $5.98 million, and Truflation, which was hit for $5.6 million.
Onyx, a Compound Finance fork, also lost $3.8 million last month. In October 2023, the protocol was robbed of another $2.1 million. In that incident, the thief took advantage of a known vulnerability in Onyx’s code that had also <a href="https://www.halborn.com/blog/post/explained-the-onyx-protocol-hack-october-2023" target="_blank" rel="noopener noreferrer nofollow">reportedly</a> been used to steal funds from Midas Capital and Hundred Finance.
The top ten biggest hacks of the month were rounded up by BananaGun, which was hit for $3 million, Bedrock, which suffered a $1.75 million breach, and Caterpillar Coin (CUT), where $1.4 million disappeared in a flash loan attack.
The post <a href="https://cryptopotato.com/over-20-crypto-hacks-in-september-2024-heres-how-much-was-stolen/" rel="noopener noreferrer nofollow">Over 20 Crypto Hacks in September 2024: Here’s How Much Was Stolen</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Over 20 Crypto Hacks in September 2024: Here’s How Much Was Stolen

Table of Contents

CryptoPotato_News

Other articles published on Oct 5, 2024

Join our free newsletter for daily crypto updates!