<\/p>\n
Blockchain security firm Certik says financial losses related to security incidents in the web3 industry topped over $1.84 billion in 2023.<\/span><\/p>\n In its annual web3 security <\/span>report<\/span><\/a>, Certik says there were 751 security incidents last year costing a total of $1,840,879,064, representing a decline of 51% from the $3.7 billion lost in 2022.<\/span><\/p>\n A larger percentage of the losses are attributed to just 10 incidents that accounted for $1.11 billion.\u00a0<\/span><\/p>\n November was the most costly month with $363.36 million lost in 45 incidents, while the third quarter saw the most losses with 183 hacks, scams, and exploits costing $686.558 million.<\/span><\/p>\n The report <\/span>says<\/span><\/a> compromised private keys<\/span> account for only 6.3% of the security incidents but these caused the most costly losses to the tune of $880.89 million in just 47 incidents.<\/span><\/p>\n \u201cAccounting for nearly 50% of total losses, and amounting to $880 million, these compromises were a painful reminder of the importance of secure private key management\u2026<\/span><\/i><\/p>\n Notably, six of the 10 most costly security incidents over the course of 2023 were due to private key compromises.\u201d<\/span><\/i><\/p>\n The BNB Chain (BNB<\/a>) had the highest number of security incidents with 387 hacks, scams and exploits costing $134 million. Ethereum (ETH<\/a>) followed with 224 incidents and $686 million in losses.\u00a0<\/span><\/p>\n The report also says there were 35 incidents affecting multiple chains costing $799 million in losses, highlighting the challenges of conducting cross-chain transactions.<\/span><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
\n
\nCheck Price Action<\/a><\/span><\/em>
\n
\nFollow us on Twitter<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
\nSurf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\n