CertiK: Crypto Projects Lost $1.19B in First 6 Months of the Year

According to the most recent CertiK Web3 Security Report, there has been a significant loss of $1.19 billion due to security incidents on blockchain in the first half of 2024.

This has raised concerns about the urgent need for better security measures to be implemented. The report highlights that the majority of these losses were caused by phishing attacks and private key compromises.

Phishing alone accounted for nearly $498 million of the total amount lost. CertiK co-founder Ronghu Gu has stressed the importance of using multifactor authentication, such as 2FA and security keys, to protect against such attacks.

Gu has emphasized that all wallets containing large sums of money must be secured with hardware wallets or other reliable key management solutions.