🔐💸 The latest CertiK Web3 Security Report is out and it's not all doom and gloom! Sure, onchain security incidents led to $1.19 billion in losses in H1 2024, but hey, who's counting? 🙃 Phishing attacks and private key compromises were the main culprits, with phishing alone causing nearly $498 million in losses.

🔑 CertiK co-founder Ronghu Gu advises using multifactor authentication and hardware wallets for significant funds. Remember folks, better safe than sorry!

🔥 The most significant breach was the DMM Bitcoin attack, causing a $304 million loss. This incident now holds a place in the hall of fame of crypto hacks. The silver lining? It led to enhanced security measures.

🇹🇷 Another incident involved BtcTurk, a Turkish crypto exchange, which suffered a $90 million loss due to a cyberattack on hot wallets.

🇺🇸 In response to these losses, the US passed the FIT21 regulatory framework bill, aiming to enhance consumer protections and support innovation in the crypto sector.

📉 Despite the alarming numbers, the trend is not pointing downward. Crypto hacks decreased by 54.2% in June.

🛡️ Gu advises that users can take "simple measures" to protect themselves, such as implementing 2FA.

So, what do you think about these security measures? Drop your thoughts in the comments! #DeFi #Web3 #CryptoSecurity