2024

DeFi

Bitcoin

Security

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/web3-security-incidents-surge-in-2024" data-wpel-link="internal" rel="noopener noreferrer nofollow">Web3 Security Incidents Surge in 2024</a><br></p>
<p style="text-align: justify">As the second quarter of 2024 concludes, the Web3 ecosystem faces escalating security challenges. A significant increase in cyberattacks targeted centralized exchanges (CEX), while decentralized finance (DeFi) protocols displayed improved resilience. Blockchain security firm Cyvers released a comprehensive report detailing these developments.</p>
<h2 id="significant-findings-from-cyvers-report">Significant Findings from Cyvers’ Report</h2>
<p style="text-align: justify">According to Cyvers’ Web3 Security Report covering the first half of 2024, there has been a marked rise in crypto losses due to cyberattacks. The report documents key incidents, shifting attack tactics, and the <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">financial</a> and operational repercussions on the Web3 landscape. Despite the surge in attacks, advancements in recovery efforts and incident response emphasize the ongoing need for robust security measures.</p>
<p style="text-align: justify">In the second quarter alone, crypto losses amounted to $629.68 million across 49 incidents, pushing the total for the first half of 2024 to $1.38 billion. This represents a substantial increase compared to the same period in 2023.</p>
<h2 id="shifts-in-attack-patterns">Shifts in Attack Patterns</h2>
<p style="text-align: justify">The second quarter witnessed a pronounced shift in security breaches aimed at centralized exchanges, particularly through access control incidents. This trend reveals a move away from exploiting smart contract vulnerabilities within DeFi protocols. Access control breaches rose by 35%, while smart contract attacks saw an 83% decline compared to the first half of 2023.</p>
<p style="text-align: justify">A notable example cited by Cyvers is the DMM <a href="https://en.bitcoinhaber.net/bitcoin-price-declines-significantly" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> incident in May 2024. The Japan-based centralized exchange experienced a major <a href="https://newslinker.co/category/cybersecurity/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">security breach</a>, resulting in a loss of $305 million. This attack, involving the transfer of 4502.9 Bitcoins valued at over $308 million, is one of the largest in crypto history.</p>
<h2 id="actionable-takeaways">Actionable Takeaways</h2>
<p style="text-align: justify">As highlighted in the report, several key inferences can be drawn to improve security strategies:</p>
<ul>
 <li>Centralized exchanges must enhance access control mechanisms to mitigate vulnerabilities.</li>
 <li>Regular security audits are essential for identifying and addressing potential risks.</li>
 <li>DeFi protocols should continue to focus on smart contract security enhancements.</li>
</ul>
<p style="text-align: justify">By implementing these measures, stakeholders can better protect assets and maintain trust within the Web3 ecosystem.</p>
<p style="text-align: justify">In conclusion, the dramatic increase in cyberattacks underscores the imperative for continuous vigilance and the adoption of advanced security practices to safeguard the rapidly evolving Web3 ecosystem.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/web3-security-incidents-surge-in-2024" data-wpel-link="internal" rel="noopener noreferrer nofollow">Web3 Security Incidents Surge in 2024</a></h5>

Web3 Security Incidents Surge in 2024

目录

BH NEWS

发布于 2024年7月8日的其他文章

Bitcoin’s Weekend Woes: Mt. Gox Creditors Prepare to Cash Out, German Government Sells

$2M Giveaway & a $56.6M Presale - BlockDAG's Shaking Things Up! Not to Miss: Blast Token & Manta'...

Terra Luna Launches New Token

ZKM announces first Bitcoin L2 to share network ownership

Ethereum Holders Are Selling Uniswap (UNI) and Aave (AAVE) and Buying Revenue Sharing Revolution ...

Binance’s Reserve Audit Reveals Crypto Holding Increases Despite Regulatory Hurdles

订阅我们免费的电子期刊，获取每日最新加密领域动态！