As Web3 investment is increasing daily, hackers find this decentralized platform the target. Companies working on this platform have the concept of future internet decentralization. They have lost more than $2bn to hacks and scams since the start of 2022.
The most common type of attack to hit web3 projects are flash loans. Here scammer borrows many cryptos for a short period and uses them to manipulate the value of tokens. Over $308 was lost in flash loan attacks in around three months.
Phishing is another kind of attack that is mainly observed on Discord. Most of these attacks are on social networking apps.
Explore most asked questions and answers related to Web3.0 from here: Best Questions And Answers On Web3