đ Q1 2024 saw a surge in cyber attacks, with $824M stolen across 67 incidents. Access control breaches were the main culprit, making up 83% of the total thefts. Big names like Playdapp, Ripple's Chris Larsen, Orbit chain bridge, and Web3 gaming protocol Munchables were among the victims.
đź Gaming platforms suffered the most, with token projects, lending protocols, and DAOs also targeted. But it's not all doom and gloom!
đ A silver lining: about $444M was recovered or frozen, thanks to proactive steps by project teams and white hat hackers. That's 54% of the stolen funds!
đ Kudos to the likes of @coffeebabe_eth, who disrupted the Blueberry protocol hack and returned funds.
đŹ Hacken's Senior Blockchain Researcher, Edgar Pavlovski, remains optimistic: "More than half of all stolen funds were either returned or frozen. This represents big advancement compared to previous years."
đŁïž What are your thoughts on these security breaches and recoveries? Let's discuss below! #DeFi #Web3 #DAO #Layer2 #CryptoSecurity