On-Chain Security Incidents Surge, Resulting in $23.6 Billion Loss Blockchain security firm CertiK's recent report reveals a concerning increase in on-chain security incidents within the Web3 industry last year. The report, titled 'Hack3d: 2024 Annual Report,' indicates that these incidents resulted in a staggering $23.6 billion in damages, a 31.6% increase compared to the previous year. Phishing Attacks and Private Key Leaks Dominate CertiK's analysis identified a total of 760 security incidents in the Web3 industry in 2023. Phishing attacks emerged as the most prevalent threat, causing damages amounting to $1.05 billion. Private key leaks also posed a significant risk, resulting in losses of $855 million. Phishing Scams: A Major Concern Phishing scams, which involve fraudulent attempts to obtain sensitive information such as private keys, accounted for nearly half of the total stolen funds. This highlights the need for users to remain vigilant and protect their digital assets from these malicious practices.