Amid the rapid evolution of decentralized finance (DeFi) and the broader Web3 landscape, security is of paramount importance. New threats continue to emerge, making it essential to understand attack patterns for risk assessment and reliability evaluation. In 2023 alone, over $990 million was lost or stolen, according to Cointelegraph’s Crypto Hacks database.
This growing demand for security has led to the emergence of a diverse ecosystem of Web3 security expertise, ranging from decentralized identity solutions to smart contract auditors, ensuring the safety of this dynamic digital space.
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The Lazarus Group, a state-affiliated hacking group from North Korea, remains a persistent threat. Lazarus was responsible for confirmed losses totaling at least $291 million in 2023. Even as the year progressed into the third quarter, Lazarus remained active and was responsible for the attack on CoinEx, resulting in losses exceeding $55 million, leaving a chilling reminder of the cybersecurity challenges.
Fortifying crypto security with blockchain analysis
Furthermore, even companies sometimes struggle to combat potential hacks and exploits. Accordingly, solo crypto enthusiasts need skills to conduct…
