#certik #onlineattack #education #defi #blockchain #cryptocurrency A new CertiK series giving users bite-size tips and info to stay informed and safe in the #crypto space. Episode 10: What is an Online Attack? Learn about #onlineattacks and more in under 2 mins! https://certik.com/products/skynet Transcript: Through decentralization, blockchain technology can improve the safety of online activities. Many online attacks use Attack Vectors to exploit system weaknesses. DDoS, Eclipse, and a 51 Percent Attack are three common types. A DDoS, Distributed Denial of Service, attack, occurs when hostile hackers overload a network with requests. In blockchain, DDoS target crypto exchanges or mining pools. They disable a network's ability to serve users. Eclipse attacks control a single node inside an artificial environment. An attacker can manipulate communications with surrounding nodes to perform illegal transactions by isolating a node. When an assailant obtains control of 50% or more of a network's mining hashrate, it's called a 51 percent attack. The individual can submit fraudulent transactions, making the blockchain centralized. 51 percent attacks become difficult as a blockchain network increases in the number of honest nodes. Blockchain analytic tools such as CertiK’s Skynet help with online attacks by monitoring on-chain activity. To learn more about online attacks visit CertiK.com/resources.

In this eye-opening video, we delve deep into the world of Honeypot contracts in Web3. Imagine digital honey traps promising rewards but designed to exploit your wallet's vulnerabilities, locking away your investments. We uncover the shocking tactics used by these contracts, including wallet blacklists, exorbitant sell taxes, and more. Learn from the infamous Squid Games token incident and discover crucial strategies to protect your crypto investments. From thorough research and advanced auditing tools to staying vigilant within the crypto community, we'll show you how to navigate this complex world and safeguard your assets. Your crypto security is paramount, and this video is your ultimate guide. Don't miss it!

In 2023, the Web3 security landscape experienced significant changes, as detailed in CertiK's Annual Report. The year saw a notable decrease in financial losses due to hacks, scams, and exploits, down to $1.8 billion, which is 51% less than in 2022 and 65% lower than in 2021. Despite this positive trend, the number of incidents rose to 751, indicating ongoing vulnerabilities. November emerged as the costliest month, with losses totaling $363 million. Private key compromises were identified as a primary cause, responsible for half of the year's losses. The report also explores intriguing cases like KyberSwap and analyzes the correlation between DeFi’s Total Value Locked (TVL) and the losses incurred. CertiK's achievements in 2023 included launching the SkyInsights platform, earning accolades for mobile security, and receiving a significant bug bounty from SUI. This highlights the company’s proactive approach in the evolving field of Web3 security.