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.

#PeckShieldAlert In October 2024, there were ~20 hacks in the crypto space, resulting in losses of ~$88.47 million.#Top 5 Hacks in October 2024:
–#RadiantCapital: $53M (bridged to #Ethereum)
-U.S. Government seizure funds: $20M (returned)
–#Eigenlayer: $5.7M (laundered to… pic.twitter.com/ORa8EpJ8e3

— PeckShieldAlert (@PeckShieldAlert) November 1, 2024

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.

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⛑️OKX Explorer Security Monthly Report
In October, onchain losses totaled $181 million, up 38.9% from last month. Phishing scams caused $43.53 million in losses.
👉On Oct 11, a Blast user lost $35 million in fwDETH due to a phishing “permit” signature.
👉On Oct 16, Radiant… pic.twitter.com/40ECZ0hwDa

— OKLink (@OKLink) November 1, 2024

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.

Read more: Victims to sue WazirX over $235m hack in class-action lawsuit

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