Bitget and Liquid Exploits Push Q3 2026 Crypto Hacks Close to $1.2 Billion
(5 hours ago) · 1 source · Summarized by CryptoBipto
Security exploits targeting Bitget and Liquid exchanges have contributed to a sharp rise in crypto hack losses during the third quarter of 2026, pushing the total near $1.2 billion. The incidents add to a growing list of major exchange breaches this year.
WHY IT MATTERS
When a cryptocurrency exchange is "exploited" or "hacked," it means attackers found a weakness in the platform's security and used it to steal funds. Think of it like a bank robbery, but digital — hackers break into the exchange's systems and move cryptocurrency out of the platform's wallets. This matters because many people store their crypto on exchanges rather than in personal wallets they control directly. When an exchange is compromised, users can lose their deposits. The fact that nearly $1.2 billion was lost to hacks in a single quarter underscores the security risks that still exist in the crypto industry, especially on centralized platforms where a single point of failure can affect many users at once.
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- cointelegraph.com
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