Crypto’s worst year for hacks wasn’t a smart contract problem. It was a people problem.
In 2023, the cryptocurrency industry experienced its highest number of hacks, with human error and social engineering being the primary causes rather than vulnerabilities in smart contracts. A significant portion of the losses stemmed from phishing attacks and scams targeting individuals rather than technical flaws in blockchain technology. Despite advancements in security measures, the reliance on human behavior continues to expose users to risks. Experts emphasize the need for better education and awareness to mitigate these threats and protect assets in the crypto space.
Read the full article: CoinDesk