Blockchain security firm PeckShield has reported that the crypto space suffered more than 20 hacking incidents in September 2024.

According to the company, these events caused about $120.23 million in losses, excluding $32.4 million worth of Spark Wrapped Ethereum (spWETH) drained in a phishing attack on September 27.

BingX, Penpie, and Indodax Suffer the Most

CryptoPotato reported on some of the largest hacks of the last month, including a $44 million breach at BingX, a $27 million loss at Penpie, and a $21 million hit on Indodax.

In the BingX incident, which occurred on September 20, PeckShield alerted the public about an initial $13.5 million outflow it deemed suspicious. However, after further investigation, several on-chain security experts gave different estimations of the loss, ranging between a low of $44 million and a high of $52 million.

In a subsequent response to the attack, the Singapore-based exchange assured users that it would cover the losses, which it described as “minor.”

The Penpie case was one of the earliest of the month, occurring on September 3. A post-mortem revealed that the criminal exploited a reentrancy protection vulnerability on the platform, allowing them to register a fake Pendle market. They used this to manipulate the platform’s reward system, ultimately making off with 11,113.6 ETH.

The incident also featured a bit of drama on the side when the person suspected to have been behind the $200 million Euler hack in 2023 reached out to the Penpie attacker to congratulate them on their exploit, urging them not to return a single cent of the stolen money.

Indonesian crypto exchange Indodax was also among the most heavily affected by last month’s criminal activities. In that exploit, the perpetrator reportedly breached the platform’s withdrawal system and stole large amounts of Bitcoin (BTC), Tron (TRX), Polygon (MATIC), and Shiba Inu (SHIB).

Smaller Hacks

Other platforms that were affected on a relatively smaller scale by the September crypto breaches include DeltaPrime, which lost $5.98 million, and Truflation, which was hit for $5.6 million.

Onyx, a Compound Finance fork, also lost $3.8 million last month. In October 2023, the protocol was robbed of another $2.1 million. In that incident, the thief took advantage of a known vulnerability in Onyx’s code that had also reportedly been used to steal funds from Midas Capital and Hundred Finance.

The top ten biggest hacks of the month were rounded up by BananaGun, which was hit for $3 million, Bedrock, which suffered a $1.75 million breach, and Caterpillar Coin (CUT), where $1.4 million disappeared in a flash loan attack.

The post Over 20 Crypto Hacks in September 2024: Here’s How Much Was Stolen appeared first on CryptoPotato.

Chainlink is currently trading in a bullish pattern that has been developing for at least seven months, capturing the attention of analysts and investors alike. Many are eagerly anticipating Chainlink to surge during this cycle and finally reclaim new all-time highs. The extended consolidation phase has kept traders on edge, as they await a significant breakout.

Renowned crypto analyst Lucky has shared an insightful prediction regarding Chainlink’s potential trajectory. According to Lucky, the key lies in LINK breaking above its current consolidation range, which would set the stage for a strong upward move. He suggests that once this breakout occurs, Chainlink could quickly surge toward a short-term target of $15.

With bullish sentiment building around this major resistance level, Chainlink’s price action in the coming days could be crucial in determining its direction. Investors are closely monitoring the market, watching for signals that LINK is ready to break free from its long-standing range and enter a new phase of growth.

Chainlink Price Action Turning Bullish

Chainlink’s price action has been largely bearish since hitting its yearly high in March, with the asset now stuck in a prolonged consolidation phase. However, many analysts believe this consolidation could be nearing its end. One top analyst, Lucky, has recently shared a bullish technical analysis on X, offering an optimistic outlook for Chainlink.

Lucky’s analysis reveals that LINK is trading within a falling wedge pattern, a formation often associated with potential bullish reversals. According to his chart, Chainlink has touched the lower boundary of this wedge three times, signaling strong support, and now appears to be gearing up for a breakout from its yearly consolidation range. He predicts that this breakout could happen as early as October, potentially triggering a surge in LINK’s price.

Lucky has set several bullish price targets once Chainlink breaks out of this consolidation phase. The first target is $15, followed by more ambitious targets at $19 and $22. These price levels would represent significant gains from Chainlink’s current price and mark a strong recovery from the bearish trend that has dominated most of 2024.

With bullish patterns emerging, investors are closely watching for Chainlink’s next move, anticipating that a major breakout could propel LINK toward these optimistic price targets.

Technical Analysis: Key Prices To Watch

Chainlink (LINK) is currently trading at $11.09 and is testing a key resistance level, the 4-hour 200 moving average (MA) at $11.10, after a 7% surge since Thursday. This level has become a significant hurdle for bulls, as the price has struggled to break above the indicator. For the bullish momentum to continue, LINK must push past this indicator and aim for higher supply zones around $13.

However, the current price action suggests that bulls are finding it difficult to gain strength at this critical level. Should LINK fail to break above $11.10 and reclaim the higher resistance, a correction may follow. In that scenario, the price could dip to a lower demand zone, with the next key support level at $9.2.

The coming days will likely determine whether LINK can maintain its upward trajectory or see a pullback in price. A successful breakout above the 4-hour 200 MA could signal further gains, while failing to do so may result in a bearish correction.

Featured image from Dall-E, chart from TradingView