October Crypto Hacking Losses Plunge 85.7% to $18.18M

Crypto hacking losses fell 85.7% in October to $18.18 million, down from $127.06 million in September, according to PeckShield. Major DeFi hacks targeted Garden Finance (≈$11 M), Typus Finance (≈$3.4 M) and MIN Spell (≈$1.8 M). This steep drop reflects stronger blockchain security across the sector. Protocols are deploying more frequent security audits, bug bounty programs and multi-factor authentication. Proactive threat intelligence and faster incident response have reduced vulnerability windows. Improved user awareness has cut phishing and social engineering attacks. Analytics firms and law enforcement cooperation have made laundering stolen funds harder. October losses were dispersed across minor incidents, suggesting hackers are shifting to smaller targets. Traders should monitor protocol vulnerabilities, apply robust risk management and install security patches. Continuous security audits and decentralized monitoring remain essential to defend against future crypto hacking losses.