In 2023, the Web3 security landscape experienced significant changes, as detailed in CertiK's Annual Report. The year saw a notable decrease in financial losses due to hacks, scams, and exploits, down to $1.8 billion, which is 51% less than in 2022 and 65% lower than in 2021. Despite this positive trend, the number of incidents rose to 751, indicating ongoing vulnerabilities. November emerged as the costliest month, with losses totaling $363 million. Private key compromises were identified as a primary cause, responsible for half of the year's losses. The report also explores intriguing cases like KyberSwap and analyzes the correlation between DeFi’s Total Value Locked (TVL) and the losses incurred. CertiK's achievements in 2023 included launching the SkyInsights platform, earning accolades for mobile security, and receiving a significant bug bounty from SUI. This highlights the company’s proactive approach in the evolving field of Web3 security.
In this eye-opening video, we delve deep into the world of Honeypot contracts in Web3. Imagine digital honey traps promising rewards but designed to exploit your wallet's vulnerabilities, locking away your investments. We uncover the shocking tactics used by these contracts, including wallet blacklists, exorbitant sell taxes, and more. Learn from the infamous Squid Games token incident and discover crucial strategies to protect your crypto investments. From thorough research and advanced auditing tools to staying vigilant within the crypto community, we'll show you how to navigate this complex world and safeguard your assets. Your crypto security is paramount, and this video is your ultimate guide. Don't miss it!
Discover the explosive world of Web3 security in our latest Hack3d report for Q3 2023. With malicious actors draining a jaw-dropping $699 million from Web3 platforms, surpassing earlier losses, and Lazarus Group's relentless assaults continuing from 2022, the stakes have never been higher. Private key breaches, totaling $204 million across fourteen incidents, expose the risks of improper key management in a supposedly decentralized industry. Plus, don't miss the year's biggest reentrancy attack triggered by a Vyper programming language glitch, impacting Curve pools and related protocols. For crypto journalists and savvy investors seeking insights, this Hack3d report is a vital watch, offering a deep dive into the industry's current status, tech adoption trends, and the transformative role of financial institutions in Web3's evolution. Join us in decoding the intricate Web3 security landscape—check out the full report at CertiK.com/resources.