Oct 6, 02:56 AM

Crypto Sector Hit by 20+ Hacks, $127M Phishing, and Raises $823M in September

The cryptocurrency sector experienced significant turbulence in September 2024, with over 20 hacks resulting in $120 million being stolen from various firms. Major victims included BingX, Penpie, and Indodax, which collectively lost $92 million. Despite BingX referring to its $44 million loss as 'minor,' the incident was closely monitored by security firm PeckShield. Additionally, phishing attacks drained $127 million in Q3 2024, with $46 million lost in September alone, affecting nearly 11,000 crypto holders monthly. On a positive note, crypto companies raised $823 million in funding across 200 projects in September, led by Celestia's $100 million ecosystem fundraise and Infinex's $65 million raise. DeFi saw 33 companies announce funding, but it was Protocol Development that secured the most.