The Web3 security space saw a dramatic shift in 2023, exhibiting both advances in resilience and enduring difficulties. Cyberattacks against the Web3 sector resulted in over $1.7 billion in damages in 2023; 453 incidents were documented. The variety of dangers shown by these assaults highlights the critical necessity for the Web3 community to maintain constant awareness. A team of experts at Salus, a web3 security business focused on research, developed this extensive analysis report.
Hacks: A Year of Differing Patterns
Even while total losses decreased considerably in 2023, high-profile exploits continued to have a significant impact. The $200 million loss suffered by Mixin Network in September, together with the $197 million losses suffered by Euler Finance in March and the $126.36 million losses suffered by Multichain in July, highlight the ongoing dangers to bridges and DeFi protocols.
Examining monthly losses in more detail shows an interesting pattern. Although there were lar
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