Security applications De.According to a recent report from Fi, cryptocurrency users lost nearly $2 billion in 2023 due to scams, trolls and hacks.。Although the number is significantly lower than the previous year, it highlights the industry's continued vulnerability to security risks.。

Market decline and increased awareness

The decrease in losses is mainly attributable to the implementation of enhanced security protocols, increased community awareness and an overall decline in market activity。It's worth noting that the reduction in losses would be even greater if the $40 billion in losses from the collapse of stablecoin issuer Terraform Labs, crypto lender Celsius and FTX exchanges were included.。

This positive trend coincides with a bear market, in which major alternative tokens experienced a sharp decline before recovering from the bull market in recent months.。Furthermore, according to De.Fi data, the capital recovery rate has also improved significantly, from only 2% in 2022 to about 10%。

De."This amount, while spread across a variety of events, highlights the ongoing vulnerabilities and challenges in the DeFi ecosystem.".Fi shared the report with TechCrunch。"2023 is a testament to both the persistent vulnerabilities and the progress made in addressing them, even as the ongoing bear market in the first half of this year has left interest in the sector relatively muted."。"

Ethereum, the blockchain with the largest number of active users and value locks, endured the highest losses, losing about 13 in about 170 incidents..500 million dollars。This underscores the appeal of Ethereum to malicious actors because of its extensive ecosystem and high-profile projects, the largest of which was exploited on the cross-chain platform Multichain 2 in July..$300 million attack。

BNB Chain was also targeted, losing 1 in 213 incidents..$101.2 billion。The zkSync Era network lost $5.2 million in two incidents, while Solana lost $1 million in one attack.。

Centralized platforms (including exchanges and trading platforms) had a total loss of approximately 2 in 7 incidents..$5.6 billion。The largest of these incidents occurred in November, when Poloniex was attacked, killing 1.$2.2 billion net loss。

Access control vulnerabilities proved to be the most damaging, with attackers exploiting weaknesses in the way permissions and access are managed within smart contracts or platforms.。This type of exploit caused a total of more than 8 losses in 29 instances..$5.2 billion, and they often allow unauthorized access to funds or critical functions。

While the cryptocurrency industry has made great strides in strengthening security measures, the report highlights ongoing challenges and highlights the importance of continued vigilance and innovation to protect users and their assets.。

Impact on the safety of traditional cold wallets

Earlier, in the cyber attack on Ledger, 48.$40,000 in digital currency stolen, exposing vulnerabilities in this traditional way of secure storage。The breach, which was caused when a former employee fell victim to a phishing attack, has wider implications for the security of cold wallets.。

Ledger confirmed that the hackers inserted malicious code into the Connect Kit library on GitHub, a widely used javascript library that allows the decentralized finance (DeFi) protocol to connect with hardware wallets.。This puts multiple DeFi platforms including Sushi, Lido, Metamask and Coinbase at risk。

While Ledger quickly removed the malicious code, users are still at risk。All protocols using Connect Kit must be manually updated to address security threats。Ledger's CEO stressed the need for continuous safety improvements and acknowledged the incident was a reminder of the dynamic nature of safety.。

Cold wallets are generally considered safe due to their offline nature, and this attack has raised questions about the security of cold wallets before。Ledger is actively working with authorities, vowing support for affected users and assisting in the investigation to apprehend hackers and recover stolen assets.。