Coinspeaker
The Evolving Battlefield of Crypto Security: HACK3D Report by CertiK

According to the “HACK3D REPORT Q1 2024”, by CertiK, a staggering $502,522,934 was siphoned off through 223 on-chain security breaches, marking a 54% increase in financial losses compared to the first quarter of 2023.

January’s High Cost of Insecurity

January emerged as the most expensive month, recording $193,132,537 lost across 78 incidents. A significant chunk of these financial casualties – nearly half – stemmed from private key compromises, despite these incidents constituting only 11.7% of the total security breaches. This alarming trend underscores the critical vulnerabilities associated with private key management within the cryptocurrency ecosystem. Considering the following months, February observed a loss of $160.38 million across 59 incidents while the value got less in March at $149 million but with an increased number of incidents at 86.

Alamaring Trends by Blockchain and Type

A breakdown of incidents by type reveals private key compromises at the forefront, followed by phishing and exit scams, highlighting the diverse tactics employed by malicious actors. Ethereum bore the brunt of these attacks, wi...