A recent report from blockchain security platform Immunefi has revealed that nearly half of all cryptocurrency lost from Web3 exploits in 2022 can be attributed to Web2 security issues, such as leaked private keys. The report analyzed various types of vulnerabilities and found that 46.48% of the crypto lost was not due to smart contract flaws, but rather to “infrastructure weaknesses” or problems with the developing firm’s computer systems. When considering the number of incidents, Web2 vulnerabilities accounted for 26.56% of the total. The report categorized attacks into three broad categories: design flaws in smart contracts, flaws in the code implementing the design, and infrastructure weaknesses. Infrastructure weaknesses, such as leaked private keys and weak encryption methods, caused the most significant losses compared to other categories. Cryptographic issues and weak/missing access control and input validation were also common vulnerabilities. Overall, the report highlights the importance of addressing Web2 security issues to enhance the security of Web3 platforms.
