
Cryptocurrency hackers continue damaging the industry’s reputation as the yearly value stolen through cyberattacks nears $1.5 billion.
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Immunefi suspended Trust Security over accusations of manipulating issues, sparking debate on fairness in Web3 bug bounty platforms.
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Losses from scams and hacks in Q3 declined by 40% compared to the previous year, but CEX hacks still pose a problem for the industry.
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Crypto hackers have stolen over 15.5% more in 2024 so far compared to the same period last year.
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The decline in crypto scams and frauds continued, with only $52 million lost in May compared to $59 million the previous year.
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The Web3 security platform now allows projects to deposit bounty funds to a Safe smart contract, proving the funds are available.
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Four security incidents took place on Coinbase’s layer-2 solution Base shortly after its launch.
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The average bug bounty payout over 1,248 confirmed reports was $52,800.
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Over $200 million worth of users’ funds could have been at risk if the whitehat chose to exploit the vulnerability for personal gain instead of reporting it to developers.
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Immunefi’s largest bug bounty to date aims to help MakerDAO pinpoint potential vulnerabilities in its smart contracts and apps to prevent monetary losses.
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