Altcoin News by Thebittimes.Com

A new Web3 security report from Beosin revealed that of the 167 major security exploits DeFi projects saw the most, at 113 attacks. It’s no secret that in 2022 the world of Web3 and decentralized finance (DeFi) experienced a slew of major exploits and attacks. From the Ronin bridge attack to the Nomad hack, the top 10 exploits alone saw over $2 billion lost. In the Beosin Global Web3 Security Report 2022, it revealed that of 167 major security incidents over the last year those rooted in DeFi were the most vulnerable. DeFi projects were attacked 113 times, which accounted for approx. 67.6% of recorded attacks. This is followed by attacks on exchanges, nonfungible token (NFT) projects, cross-chain bridges and wallets in that order. According to the report, DeFi project s came in second in terms of monetary losses with a total of $950 million in losses. This follows the $1.89 billion lost in cross-chain bridge exploits in the last year. In total 2022 saw $3.6 billion lost from all atta...

Join Our Telegram channel to stay up to date on breaking news coverage Best to worst NFT project s of 2022 and the impact of social media NFTs have boomed in the past months, and it’s safe to say we were overwhelmed by the amount of information and the new concept that didn’t seem to make any sense. But NFTs gained popularity rapidly since so many investors saw the potential of these new assets. Another reason NFTs are so big now is that digital artists could finally sell their creations online and in a unique way since you can’t copy an NFT or alter it. Of course, like any other new thing on the internet, social media played a crucial role in the fame of NFTs. Businesses are also considering NFTs as a new source of income since you can easily prove ownership of digital goods, for which companies can become more transparent in their processes. Unfortunately, not all NFTs were a success. Some of them flopped, and it’s not that surprising since the concept has been recently e...