CertiK's 2024 Q3 Hack3d Report Shows Decline in Crypto Hacks Amid Industry Growth

NEW YORK, Oct. 03, 2024 (GLOBE NEWSWIRE) - CertiK, a leading blockchain security firm, released its Web3 security quarterly report, Hack3d, for Q3 2024. CertiK’s Hack3d reports provide the most comprehensive statistics and analysis of Web3 security.

In this report, CertiK noted that hackers stole more than $750 million across 155 security incidents in Q3 of this year; this pushes the total amount stolen in 2024 to nearly $2 billion so far. Although this quarter saw a decline in the number of incidents compared to the previous quarter, there was an approximate 9.5% increase in total value lost. This shift indicates that attacks were, on average, more substantial, underscoring the continued need for stronger security measures across the industry.

CertiK also reported that phishing attacks and private key compromises — the top two attack vectors — resulted in a total of $668 million stolen. In the most notable phishing incident, an attacker stole $238 million from a Bitcoin whale. Another large attack occurred on WazirX, where a malicious actor stole approximately $231 million by acquiring the wallet’s private key.

Phishing attacks typically involve bad actors posing as legitimate entities to trick users into revealing sensitive information, such as login credentials. Private key compromises occur when a user’s private key, which grants access to their crypto assets, is stolen or exposed, allowing attackers to transfer funds without needing any further authorization. To prevent falling victim to these attacks, users should be wary of unsolicited messages asking for private information, double-check website URLs and email addresses, enable two-factor authentication (2FA), and avoid signing or approving phishing contracts.

Additionally, CertiK’s Hack3d report analyzes blockchains with the most exploits, the top three incidents of the quarter, general industry developments, and how users and protocols can boost their security.

Hack3d serves as an essential resource and record of statistics for understanding security challenges and vulnerabilities in the Web3 space. It equips stakeholders with the knowledge and insights needed to fortify their defenses and make informed decisions in an increasingly high-stakes environment.

Contact
Elisa Yiting Xu
yiting.xu@certik.com