According to Cointelegraph, about $1.8 billion in digital assets were lost across 751 security incidents in 2023. The amount is expected to be 51% lower than in 2022 when losses to hacks and other incidents reached $3.7 billion.
With insights from CertiK, a blockchain security firm, an annual report titled ‘Hack3d: The Web3 Security Report 2023,’ on January 3, 2023, the security company compiled a document highlighting the state of Web3.0 security in the last year.
“The growth of bug bounty platforms and other proactive security measures is a good sign. Hopefully, we will see a continued decline in losses throughout 2024,” Ronghui Gu, co-founder, CertiK, explained.
Furthermore, Gu mentioned that if losses stay low during the bull run, it might indicate that the Web3.0 industry is ‘learning its security lessons’, Cointelegraph concluded.
(With insights from Cointelegraph)
