Blockchain security firm PeckShield has reported that the crypto space suffered more than 20 hacking incidents in September 2024.

According to the company, these events caused about $120.23 million in losses, excluding $32.4 million worth of Spark Wrapped Ethereum (spWETH) drained in a phishing attack on September 27.

BingX, Penpie, and Indodax Suffer the Most

CryptoPotato reported on some of the largest hacks of the last month, including a $44 million breach at BingX, a $27 million loss at Penpie, and a $21 million hit on Indodax.

In the BingX incident, which occurred on September 20, PeckShield alerted the public about an initial $13.5 million outflow it deemed suspicious. However, after further investigation, several on-chain security experts gave different estimations of the loss, ranging between a low of $44 million and a high of $52 million.

In a subsequent response to the attack, the Singapore-based exchange assured users that it would cover the losses, which it described as “minor.”

The Penpie case was one of the earliest of the month, occurring on September 3. A post-mortem revealed that the criminal exploited a reentrancy protection vulnerability on the platform, allowing them to register a fake Pendle market. They used this to manipulate the platform’s reward system, ultimately making off with 11,113.6 ETH.

The incident also featured a bit of drama on the side when the person suspected to have been behind the $200 million