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Web3 Hacks Plummet Significantly, Data Shows

November 11, 2024 at 10:05 AM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Recent data has revealed that incidents of hacking in the Web3 sector have significantly reduced, reaching their lowest point in three years. According to the Hacken report, a leading blockchain security firm, in conjunction with Extractor, has disclosed that only 28 hacking incidents were reported in Q3 2024, down from 41, which occurred in the previous quarter. The decrease suggests that Web3 projects are becoming better at protecting themselves.

The total amount of money stolen by hackers has also decreased. In Q3 2024, hackers took about $464 million, a 10% decline from the…

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