Cyber-attacks targeting Web3 cost organizations $1.84bn in 2023 across 751 incidents, according to Certik’s Hack3d: The Web3 Security Report 2023.

The average cost per incident was $2.45m in 2023. However, there was a wide disparity between the losses suffered, with the 10 most costly attacks alone accounting for $1.11bn.

The highest costs occurred in Q3, where $686.5m was lost from 183 hacks.

The report, which examined hacks, scams, and exploits in the entire Web3 industry, found there