Web2 Vulnerabilities Contribute to Almost Half of Crypto Losses

Adekunle Joshua

Security auditing firm Immunefi reveals that nearly half (46%) of crypto losses in 2022 were attributed to Web2 vulnerabilities

The firm also identified three main categories of Web3 vulnerabilities: design flaws, implementation flaws, and infrastructure weaknesses

The study also highlighted a shift towards a more community-driven approach to Web3 security

Based on these findings, the report suggests that Web3 projects should take proactive security measures, conduct thorough testing and auditing of smart contracts, and actively engage with the security community

By implementing these proactive measures, Web3 projects can enhance their defenses against crypto threats and exploits ahead of the upcoming bull run