During the Web3 Festival in Hong Kong, SharkTeam released the “Smart Contract Security Research Report” and had an in-depth discussion with the participants and Web3 users about on-chain security and on-chain data analysis.

According to data from ChainAegis, the SharkTeam on-chain analytics platform, there were 211 security incidents in the Web3 space in the first quarter of 2023, with a daily average of 2.34 incidents and a loss of more than $383 million. Security incidents continue to show a high incidence, with the number increasing by nearly 62.3% compared to the fourth quarter of 2022.

In the first quarter, the number of contract vulnerabilities and Rug Pull incidents did not change much from previous quarters, while other types of security incidents rose 142.18% from the fourth quarter of 2022. The types of security incidents are diverse, with hacking methods becoming more abundant and attack techniques emerging.

Are the smart contract vulnerabilities we often mention really the most threatening and frequent security vulnerabilities in practice? This is not the case, for example, “overflow”, “external call” and other commonly mentioned smart contract security vulnerabilities are not the most frequent and most threatening. So, which security threats can be called Top 10 in terms of frequency of occurrence and harm? What are the typical security attacks that occurred in the first quarter? See this report [smart contract security research report].

The report is divided into three major chapters: Chapter 1 focuses on the top 10 smart contract security vulnerabilities that actually do the most harm; Chapter 2 focuses on typical security attacks in the first quarter of 2023; Chapter 3 collates nearly 200 smart contract security details vulnerabilities to form a smart contract vulnerability library.

[Full Report] Download:

https://drive.google.com/drive/folders/1WOe-BybIXGiPEBy0jZtJ6MxSqMTgzYsf?usp=sharing

About SharkTeam

Our vision is to improve security globally. We believe that by building this security barrier, we can significantly improve lives around the world.SharkTeam composes of members with many years of cyber security experiences and blockchain, team members are based in Suzhou, Beijing, Nanjing and Silicon Valley, proficient in the underlying theories of blockchain and smart contracts, and we provide comprehensive services including threat modeling, smart contract auditing, emergency response, etc. SharkTeam has established strategic and long-term cooperations with key players in many areas of the blockchain ecosystem, such as Huobi Global, OKX, polygon, Polkadot, imToken, ChainIDE, etc

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