The Q3 Security Report by Hacken reveals that the web3 industry lost $1.8 billion in 2024, with preventable issues like smart contract vulnerabilities and reentrancy attacks accounting for nearly 40% of the losses. The report also highlights the lack of security audits, with 90% of hacked projects having never undergone any audit. Traditional audits are crucial but often unchallenged, and a single review may not catch all vulnerabilities. To address this, public audits involving the white hat hacker community could be incentivized through DeFi tools, making bug bounties more affordable for smaller projects. Hacken's DualDefense Flash Pools offer a dual-layered security model, where clients paying for private audits also receive public audits, encouraging community participation and providing increased code safety assurance. Decentralized audits democratize security access for web3 projects and can be funded through community-based reward pools. This approach combines traditional audits with open community-backed audits and incentivizes auditors to approach audits more carefully. The use of real-world money-backed rewards in public audit pools promotes sustainable financial models in DeFi. Overall, public audits supported by DeFi-driven incentives contribute to a resilient and proactive security culture in web3.



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