Q3 Cryptocurrency Hacks Result in $1.18 Billion Losses
- Total losses from hacks in the third quarter reached $1.18 billion.
- 77% of these losses were linked to compromised suppliers and delayed security fixes.
- Many systems involved were not covered by the latest security reviews.
The findings highlight significant vulnerabilities within the cryptocurrency ecosystem, particularly regarding third-party suppliers and outdated security measures. This situation raises concerns about the effectiveness of current DeFi audits in protecting investors.
As reported, the substantial losses underscore a critical need for improved security practices, especially given that a large portion stemmed from preventable issues like supplier compromises and delayed fixes.(Source)
