CandleFocus

Web3 Faces $750M+ in Losses from Crypto Attacks in Q3 2024

In the third quarter of 2024, hackers' attacks on cryptocurrencies cost more than $753 million, highlighting the ongoing security issues in the Web3 space. Phishing was identified as the most common vulnerability type, with attackers stealing $343 million through 65 cases. Ethereum was the primary target for hackers, suffering $387 million in thefts across 86 incidents. Private key compromises and code vulnerabilities also contributed to the losses. These figures demonstrate the need for stronger security measures across blockchain networks and increased user awareness to counter these threats.

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