DeFi-type projects caught the highest number of attacks in 2022: Report

There were a number of significant exploits and attacks in the world of Web3 and decentralised finance (DeFi). Over $2 billion was lost as a result of the top 10 exploits, from the Ronin bridge attack to the Nomad hack, as reported by Cointelegraph.

According to the Beosin Global Web3 Security Report 2022, of the 167 significant security incidents that occurred over the past year, those that had DeFi as their root cause were the most vulnerable. DeFi projects were attacked 113 times, or roughly 67.6% of all attacks that were reported, Cointelegraph noted.

Additionally, blockchain security firms are advising users to keep their private keys safe because poor key management in 2023 will result in financial losses from private key compromises. There have been exploit incidents as of 2023. Hackers took digital assets worth $3.5 million from GMX whale on January 3.

Nevertheless, December of 2022 ended with the least amount of DeFi funds exploited, $62 million in total.

(With insights from Cointelegraph)

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