Web3 isn’t taking cybersecurity seriously enough

Back in early 2022, hacks in crypto were certainly not rare, but their magnitude appeared dimmed by overall industry growth, adoption and the innovation of new, cutting-edge projects. 

But the effects of exploits are clearer today than ever before: Q3 was dubbed 2023’s most damaging yet, with over $700 million in losses through various hacks and scams.

Unfortunately, this hasn’t come as a complete surprise, as companies in the crypto space are largely responsible for their own cybersecurity failings.

Private capital investment in Web3 has slowed, with VCs exercising caution in light of the ongoing market headwinds. Companies have transitioned back to building and developing as a…

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