PeckShield: October Crypto Hacks Tally Up To $88.4m In Losses Across 20 Incidents

PeckShield reports that October saw nearly 20 crypto hacks, leading to around $88.4 million in losses, with the top incident affecting Radiant Capital.

October proved to be a difficult month for the crypto sector, with around two dozen hacker attacks resulting in losses of $88.4 million, while total on-chain losses rose to $181 million.

Data compiled by blockchain analytics firm PeckShield shows that the largest incident involved Radiant Capital, which lost $53 million after the breach of multi-signature wallets linked to the Ethereum network.

Other breaches included a U.S. government seizure of $20 million. However, the stolen funds were eventually recovered, while EigenLayer saw $5.7 million worth of crypto laundered via crypto exchanges such as HitBTC and Bybit.

https://twitter.com/OKLink/status/1852226738324942935

Meanwhile, data from OKLink indicates that phishing scams alone accounted for $43.5 million in losses, with around $35 million in fwDETH lost due to a phishing attack involving a deceptive “permit” signature. Additionally, private key leakage incidents resulted in $7.2 million in lost funds, while rug pulls accounted for $45.7 million in losses.

The latest data shows a 26% decrease in losses compared to September, when hackers stole $120 million across more than 20 incidents. While the figure remains significant, the overall impact of crypto hacks was reduced compared to August, when the industry suffered over $300 million in losses from just 10 separate incidents.

RECENT NEWS

Kraken's Owner Buys A Bank: The Lines Are Blurring

Payward, the parent company of the crypto exchange Kraken, has agreed to buy a European bank. It would be the first digi... Read more

Crypto Vaults: Big Money, Thin Protection

Anyone who has spent time around financial markets will recognise the pattern. A new product appears, the yields look ir... Read more

Major Players In Crypto Hacked

Crypto's Billion-Dollar Blind Spot: Inside the Bitget Heist and the Revolut Extortion Plot Read more

Circle Wins Landmark US Banking Licence

Circle Internet Group has finally secured the regulatory prize it has been chasing for more than a year, with Read more