🚨 Threats to Web3 will increase in 2024 with million-dollar losses 🚨

A report from Cyvers highlights that threats to the Web3 network will rise in 2024, resulting in losses exceeding $2.3 billion across 165 security incidents. This represents a 40% increase compared to the $1.69 billion lost in 2023, although it remains $1.42 billion lower than the $3.78 billion lost in 2022.

Access control violations have been the main factor behind these losses, accounting for 81% of the total, with 67 recorded events. Additionally, 98 incidents related to smart contract vulnerabilities resulted in losses of $456.3 million. A single address poisoning incident caused losses exceeding $68 million.

- Losses from access control violations have steadily increased, rising from $769 million in 2022 to $1.9 billion by the end of 2024.

- Losses due to code exploitation have significantly decreased compared to 2022.

- The recovery of $1.3 billion in 2023 shows a notable effort in damage mitigation.

This increase in threats and financial losses underscores the need to strengthen security in Web3 to protect users and maintain trust in the ecosystem. 🛡️💰 #Web3 #Seguridad #Criptomonedas $ETH $BADGER $BANANA