Hack3d: The Web3 Security Quarterly Report - Q1 2024
A total of $502,522,934 was lost to 223 hacks, scams, and exploits throughout the first quarter of 2024. Check out our comprehensive report for all the statistics, data, and analysis you need to understand the current state of onchain security.
A total of $502,522,934 was lost across 223 onchain security incidents in Q1 2024.
This represents a 54% increase in value lost compared to Q1 of 2023’s total of $326 million, though a minor 3.8% decrease from Q4’s losses of $522 million.
January was the most costly month of the quarter, with $193,132,537 lost in 78 onchain security incidents.
Private key compromises were once again the most costly attack vector, with $239,037,879 lost in just 26 incidents. This again represents nearly half of all financial losses, though key compromises accounted for just 11.7% of all security incidents.
Ethereum experienced the highest number of security incidents, with a total of 131 hacks, scams, and exploits leading to $139 million in losses.
$77,970,073 of value was ultimately returned, with the majority of this figure coming from the Munchables incident.
Hack3d investigates the ongoing prevalence of private key compromises, as well as Solidity rounding error exploits, the unprecedented inflows to the recently-approved Bitcoin ETFs, major financial institutions’ forays into onchain finance, and the effects of Ethereum’s successful Dencun upgrade on scaling L2s.
