Major security breaches at Bitget and Liquid Network defined a volatile September, with combined losses exceeding $700 million despite partial fund recovery efforts by the Liquid protocol.
The $388 million Bitget breach represents a major security failure and significant fund loss, pressuring the exchange's near-term outlook.
The $320 million exploit on Liquid Network, despite partial recovery of over $270 million, highlights severe security vulnerabilities and negative sentiment for the protocol.
September crypto security incidents were dominated by two major exploits totaling over $700 million in losses. While the Liquid Network managed to recover a significant portion of stolen funds, the $388 million Bitget breach underscores persistent vulnerabilities in exchange infrastructure.
The primary drivers were the $388 million breach of Bitget and the $320 million exploit of the Liquid Network.
Yes, in the case of the Liquid Network exploit, more than $270 million of the stolen $320 million was returned.