In Q3 2024, crypto hacks and scams resulted in losses of $413 million, with $409 million attributed to hacking incidents and the remainder to fraud. Centralized exchanges faced the most significant breaches, notably WazirX losing $235 million and BingX $52 million. The report highlights ongoing challenges in private key management for centralized platforms, emphasizing the need for improved security measures.
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0 posts last weekPenpie Protocol Exploit Results in 27 Million Dollar Loss
The Penpie protocol, a decentralized finance platform, was exploited on September 3, 2024, resulting in a loss of $27 million in client funds. The incident is part of a troubling trend in 2024, where over $1.2 billion has been stolen across 154 hacks, with significant losses attributed to both decentralized and centralized finance exploits. As a precaution, Penpie has suspended all deposits and withdrawals while Pendle assured users that their funds remain safe.
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