Web3 Security: How to Reduce Your Cyber Risk
OODA has a deep heritage in red teaming enterprise and advanced technologies. In cybersecurity, a Red Team is a group of experienced professionals authorized and organized to test a system using realistic methods of a real adversary. The objective of a Red Team is to improve security by emulating the objectives and tactics of real-world attackers and then mitigating the attack surface and vulnerabilities revealed in the testing.
Web3 technologies would greatly benefit from red teaming. Seemingly great innovations get fielded without sufficient security controls, resulting in impactful incidents. How bad are these incidents? As of March 2022 Web3 incidents have resulted in over $61 Billion in losses since 2011. (Web3 Incident Database)
OODA recommends Web3 developers and projects focus Red Team efforts on six key areas:
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OODA network members can also access these additional resources on Web3 including insights into how to reduce risk and inform business strategies. Research and reporting of interest includes:
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