$766M stolen in September. 92% of it came from just two incidents.
PeckShield counted 55 major incidents and about $766M in losses, making September 2026 the worst month of the year.
But break the number down. According to CertiK, Bitget ($387.5M) and Liquid Network ($318.7M) together account for about 92%. Every other incident combined adds up to roughly $62M.
The two cases were also completely different. Per reports, Bitget's hot and warm wallets were hit. At Liquid, a code flaw allowed fake L-BTC to be created.
Neither is the usual DeFi story of "TVL is growing and there's an audit."
My read: risk is more concentrated than it looks. The big losses happen where a lot of assets depend on a few keys or a single mechanism.
Limits: two incidents don't prove a pattern, and I haven't read the full post-mortems yet. Also, about $273M was frozen or returned, so net losses were closer to $495M.
Where you keep your assets, do you know how many people or keys could move everything out?
⚠️ Not financial advice.
#CryptoSecurity #CryptoHacks #Bitget #LiquidNetwork #ZeroHunter
$BTC $ETH $BNB
PeckShield counted 55 major incidents and about $766M in losses, making September 2026 the worst month of the year.
But break the number down. According to CertiK, Bitget ($387.5M) and Liquid Network ($318.7M) together account for about 92%. Every other incident combined adds up to roughly $62M.
The two cases were also completely different. Per reports, Bitget's hot and warm wallets were hit. At Liquid, a code flaw allowed fake L-BTC to be created.
Neither is the usual DeFi story of "TVL is growing and there's an audit."
My read: risk is more concentrated than it looks. The big losses happen where a lot of assets depend on a few keys or a single mechanism.
Limits: two incidents don't prove a pattern, and I haven't read the full post-mortems yet. Also, about $273M was frozen or returned, so net losses were closer to $495M.
Where you keep your assets, do you know how many people or keys could move everything out?
⚠️ Not financial advice.
#CryptoSecurity #CryptoHacks #Bitget #LiquidNetwork #ZeroHunter
$BTC $ETH $BNB