🚨According to Cyvers' Web3 security report, stolen crypto funds this year are approaching $1.4 billion, with centralized exchanges the new focus of exploitation. In Q2 2024, crypto losses exceeded $600 million, a 100% increase compared to the same period last year. Centralized exchanges saw a 900% increase in losses. 📈

Access control breaches, often in the form of phishing attacks, accounted for the majority of stolen funds, around $490 million in Q2.

Decentralized finance (DeFi) protocols have protected users by freezing compromised smart contracts, but the risk of exploitation remains prevalent. Cross-chain bridges are also becoming a significant attack vector.

The report notes that victims are having more success in recovering lost funds, with a 42% increase in Q2 compared to the same period last year. However, the vast majority of lost funds, around 76%, have not been recovered.

Web3 users should be alert to emerging threats from artificial intelligence and quantum computing. What security measures are you taking? Share your experiences in the comments! 💬