Crypto hacks surge 55% to $1.2 billion, with smart contract losses rising 48% in Q3

Hacken's third-quarter crypto hack report shows total theft rose 55% to $1.18 billion year-on-year, driven by a 48% share of losses from smart contracts, up from 11% in the second quarter. While key theft dropped 30%, incident frequency increased from 67 to 107 cases, and the mean loss per incident remained stable at around $11 million. Bitget and Liquid reported separate withdrawal control failures in September involving forged instructions and invalid asset acceptance.