North Korea-linked theft and poor key security dominate Web3 losses: Hacken

A report by Hacken reveals that North Korea-linked cybercriminals have been responsible for significant thefts in the Web3 space, contributing to a total loss of $1.4 billion in 2022. The report highlights that poor key management practices among users and projects are a major factor in these security breaches. Additionally, decentralized finance (DeFi) platforms are particularly vulnerable, with hacks accounting for over 90% of total losses. The findings emphasize the urgent need for improved security measures within the Web3 ecosystem to combat these ongoing threats.

Read the full article: Coin Telegraph