The third quarter saw approximately $1.18 billion in cryptocurrency hack losses across 107 incidents, with 80% concentrated in just four major events. Smart contract incidents were the most frequent with 71 attacks resulting in $228 million in losses, while the Liquid Network hack saw white hats return $272 million. About 33% of gross losses, or $387 million, were recovered or reversed, with operators covering an additional $410 million from their own funds. In total, $384 million, or 32% of gross losses, were neither returned nor covered.
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