According to the third-quarter report of CertiK, a blockchain security company, cyber fraud and attacks in the Web3 ecosystem within the last month led to a total loss of $32.2 million for crypto asset investors. Although the fraud activities and cyber attacks in the past month have decreased compared to previous months, current data reveals that security issues in the crypto industry continue to rise.
Security Concerns in the Crypto Industry are Increasing
With the increasing adoption of cryptocurrency units by more investors in recent years, security issues in the crypto industry have been on the rise. While regulatory authorities of countries have accelerated their regulatory efforts in recent times, visible decrease in security issues in the crypto industry has not been observed yet.
Especially, the Mixin Network attack in September significantly increased security concerns in the crypto industry, resulting in an average loss of $200 million.
The number of fraud activities and cyber attacks that have occurred since the beginning of 2023 has reached its highest level in recent years. Security issues that have come to the fore in the crypto industry during this period have continued to increase in recent months.
Third Quarter Report from Blockchain Security Company
CertiK, a blockchain security company, has published a third-quarter security report on the crypto industry. The report includes recent fraud activities and cyber attacks and highlights the increasing security issues in recent times.
According to the report, a total of 79 security issues were reported in July, 66 in August, and 39 in September, including cyber attacks and fraud activities. Although there has been a slight decrease in the number of security issues in the last month, there has not been a noticeable decrease in the number of cyber attacks and fraud activities yet.
The report also addresses the security issues that occurred in the last month. According to the report, 38 security issues were reported in the last month, and during this period, investors faced a total loss of over $32 million.
