??October Crypto Thefts Reach $130M As Hacks And Exploits Escalate
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In October 2024, the cryptocurrency sector saw a sharp increase in losses, with $130 million lost to hacks, phishing scams, and other exploits. Key incidents affected both individual users and major platforms, prompting enhanced security measures.
Key Points
?? A phishing scam resulted in a $36 million loss for a crypto user.
?? The M2 exchange suffered a $13.7 million hack, impacting cryptocurrencies like Bitcoin and Ethereum.
?? Radiant Capital faced the largest loss, over $50 million, due to a malware attack targeting developer devices.
?? To bolster security, Radiant added a 72-hour timelock on protocol changes.
?? Despite the rise, October’s losses remain significantly lower than the $324.7 million peak in May 2024.