Hacker Buffet: September Served Up $120 Million in Crypto Hacks

Buckle up, crypto fans—September 2024 was a wild month for hacks, with over $120 million stolen in just a few high-profile heists. That’s right, hackers made off with more than your typical “rug-pull” haul, targeting centralized and decentralized platforms alike, making it one of the most significant crypto-crime months of the year. 🚨💸

Leading the list of casualties was Singapore-based exchange BingX, which saw an eye-watering $44 million vanish in a single incident. Not to be outdone, Indodax, one of Indonesia’s largest crypto exchanges, had $22 million stolen. Imagine waking up and realizing that a chunk of your entire platform’s assets had just…disappeared. Meanwhile, Penpie, a decentralized finance (DeFi) protocol, suffered $27 million in losses, proving that hackers aren’t picky about whether you’re centralized or decentralized—they’ll take your crypto either way.

Now, you’d think the exchanges would have beefed up their security after previous incidents, right? Well, think again. This isn’t the first time BingX has been hit. The fact that some of these platforms had vulnerabilities that were easily exploited feels like watching a horror movie where the protagonist still doesn’t lock the door. 🤦‍♂️

Meme It: Hackers on a Shopping Spree

The meme potential here is gold. Picture hackers casually walking into these platforms like they’re in a supermarket, grabbing funds off the shelves like it’s an “everything-must-go” sale. Or better yet, a classic meme where a CEO is sipping coffee in a burning room, saying “This is fine,” as millions disappear behind him.

Another idea: a “Pirates of the Caribbean” meme, where hackers are decked out like swashbucklers boarding a sinking crypto ship. Exchanges, on the other hand, are the hapless sailors, desperately plugging leaks in the hull while their treasure gets stolen from under their noses. 🏴‍☠️

The Bigger Picture: Is Anyone Safe?

With these hacks adding to the growing pile of crypto thefts—over $409 million stolen in Q3 alone—the question remains: is anyone’s crypto safe? Centralized and decentralized platforms alike seem vulnerable, and as these incidents pile up, trust in crypto security is hanging by a thread.

While crypto promises financial freedom, it’s increasingly becoming a high-stakes game where one wrong move could lead to massive losses. So, whether you’re trading or HODLing, the message is clear: not your keys, not your coins. 🔐

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Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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