Crypto hacks reached $1.18 billion in Q3 2024, according to Hacken, a 55% increase from Q2. This rise reflects a shift in attack patterns: smart contract losses jumped from 11% to 48% of the total, while key theft dropped from 88% to 40% of the overall amount. The Bitget incident, valued at approximately $388 million, illustrates an operational flaw where stolen internal credentials allowed forged withdrawal instructions without any private key compromise. The Liquid case demonstrates how invalid assets were accepted by the network before a genuine authorization released the corresponding bitcoins, leaving roughly 602 BTC unrecovered.
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