Over the past several years, there has been a rapid emergence of companies, projects, and initiatives in what is broadly categorized as Web3. While monitoring that rapid innovation, the OODA research team has noticed a disproportionately high number of cybersecurity incidents that have the potential to negatively impact the Web3 innovation ecosystem, disrupt customer adoption of these technologies, and result in consumer and enterprise monetary losses.
OODA has compiled a Web3 incident database based on our research to categorize what compromises are taking place as well as document the cyberattack root causes. Tracking root causes provides insights into how innovators can create robust cyber risk management approaches and reduce the potential for consequential attacks.
Reviewing the database leads to several conclusions on the need for improved risk mitigation. We capture many of our recommendations in this report on Web3 Security.
Below is a summary graphic and then direct access to the database.
Click for live version:
The 390 major incidents we are tracking reflect a total value of over $73 Billion dollars in today’s value ($16.9 Billion total as calculated in year of incident). In just the last 12 months alone incidents have impacted $3.3 Billion in value.
From the perspective of just the last 12 months, contract flaws and frauds/scams are the predominate attack root causes. However root causes include a mix of old and new types of attacks, with insider attacks, traditional intrusions and errors still playing a major role.
OODA members can search the database of incidents below. Click on any card to expand for more details.
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:
What CEOs Need To Know About Bitcoin: Including potential new business models to consider A Cambrian Explosion in innovation in Bitcoin related products and services is underway. Here is what the business leader should know about this revolutionary transformation of the global financial sector.
Reducing Risk To Cryptocurrency Projects by Red Teaming We provide insights on prioritizing defenses of cryptocurrency projects based on our years of experience in red teaming.
Is Bitcoin a National Security Risk? How might Bitcoin be framed as a national security risk? As national security technologists, here is our take on where the government is likely concerned.
The Past Present and Future of DeFi Here we capture insights from two of our most popular OODAcasts on the cryptocurrency revolution, one with crypto pioneer Bradley Rotter and one with author of “The Infinite Machine” Camila Russo.
Bitcoin and Ethereum and the Metaverse Jahon Jamali is one of the great explainers of the nature of the crypto revolution and provides insights here into the nature of the coming changes.
What Will The Federal Government Do In Response To The Rise of Cryptocurrencies? All businesses and citizens should understand the importance of improving policy in this domain, but we also need to be cautious about over regulating or passing foolish rules that do more harm than good.
Disruptive and Exponential Technologies We track the rapidly changing world of technology with a focus on what leaders need to know to improve decision-making. Gain insights into the future of tech in a way that enables optimized action. We provide deep insights into Blockchains, Artificial Intelligence, Machine Learning, Cloud Computing, Quantum Computing, Security Technology, Space