Crypto Chaos: Web3’s $2.3 Billion Blunder in 2024 – A Phishy Business!
In 2024, Web3 security incidents resulted in over $2.3 billion in losses, with phishing attacks becoming the costliest scam. These phishing scams accounted for nearly half of the stolen crypto, with con artists posing as tech support. So, remember, if someone asks you to reset your 2FA, it’s probably not Google.
Hot Take:
It seems like Web3 security is the wild west of the digital world, where hackers are the outlaws and cryptocurrencies are the gold bars. With over $2.3 billion in stolen crypto, it looks like 2024 is the year of the cyber heist sequel no one asked for. And to think I was worried about losing my online shopping cart!
Key Points:
- Web3 security incidents led to $2.3 billion in cryptocurrency losses in 2024, a 31.6% increase from 2023.
- Despite fewer incidents (760), the amount stolen per hack increased to an average of $3.1 million.
- Ethereum was the most targeted, with 403 incidents and $748.6 million stolen.
- Phishing was the top attack vector, responsible for $1.05 billion in losses.
- The most significant phishing attack involved $243 million stolen from a single victim.
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