CertiK: September Exploit and Phishing Losses Hit $766.4 Million

The scale of September's losses underscores that exploit and phishing risk remains a dominant operational threat, not a marginal one. The concentration in Bitget and Liquid Network matters because it suggests the damage was not evenly spread across the ecosystem; a few venues absorbed the bulk. Equally notable is the role of recovery and freezing in shrinking the net impact, which points to response capability as a meaningful variable in outcomes. Whether that recovery rate holds as incident frequency stays elevated is the open question.