Tagged: certik

March 31, 2025 @ 9:31 pm By Omar Faridi  |  

The decentralized finance (DeFi) community was once again rattled by a significant security breach targeting Magic Internet Money (MIM), a USD-pegged stablecoin issued by the Abracadabra protocol. According to an in-depth analysis by CertiK, a blockchain security firm, the exploit resulted in the loss of… Read More

March 18, 2025 @ 12:32 pm By Omar Faridi  |  

CertiK Chief Security Officer Kang Li has commented on the changing regulatory environment for cryptocurrencies and how it potentially brings new opportunities. During discussions held as part of the 2024 Korean Blockchain Week (KBW), Professor Kang Li, Chief Security Officer of CertiK explained how recent… Read More

February 26, 2025 @ 9:20 am By Omar Faridi  |  

On Friday, February 21, 2025, the cryptocurrency ecosystem was rocked by one of the largest hacks in its history: a meticulously executed theft of nearly $1.5 billion worth of Ethereum tokens (and some other cryptocurrencies) from Bybit, a prominent crypto exchange. Although many of these… Read More

January 16, 2025 @ 10:57 am By Omar Faridi  |  

In the Web3 space, new tokens are constantly emerging, the team at CertiK noted while pointing out that these new tokens may not be safe and could pose certain (serious) risks for holders and traders. CertiK revealed that in the past few months, their security… Read More

January 13, 2025 @ 5:09 pm By Omar Faridi  |  

Founded in 2018, CertiK claims that it became a trusted name in Web3 security by leveraging formal verification to safeguard smart contracts and decentralized systems. Over the years, CertiK expanded their offerings to include comprehensive security services, audits, and tools, solidifying their “reputation as a… Read More

January 5, 2025 @ 7:58 pm By Tony Zerucha  |  

Nearly $2.4 billion was stolen across 760 on-chain incidents in 2024. That was just one revelation in CertiK’s Hack3d: The Web3 Security Report 2024. Even though the total number of incidents decreased by roughly 4%, the amount stolen surged by 31%, meaning that even though… Read More

January 4, 2025 @ 9:51 am By Omar Faridi  |  

As Bitcoin reaches unprecedented levels following yesterthe US election results, thousands of first-time investors are rushing to enter the cryptocurrency market. But new research from CertiK – the blockchain security firm that has protected over $3 trillion in user assets – reveals concerning vulnerabilities that… Read More

November 7, 2024 @ 8:51 am By Omar Faridi  |  

CertiK has shared a security assessment focused on Web3 desktop wallets. As explained in an extensive update by the team at CertiK, desktop wallets play a key role in the Web3 ecosystem, providing users with a means to manage their digital assets within decentralized networks…. Read More

November 4, 2024 @ 10:44 pm By Omar Faridi  |  

As the Web3 ecosystem continues to mature and evolve, significantly more capital is flowing into the crypto-assets sector — which, in many cases, has provided opportunities for hackers to “profit” from this by exploiting vulnerabilities on-chain. This, according to an update from CertiK. Unfortunately, blockchain… Read More

October 25, 2024 @ 8:34 am By Omar Faridi  |  

Much like traditional financial markets, crypto markets are not “immune” to manipulation. This, according to an update from CertiK. CertiK explained in an extensive update that many of the same practices that plague stocks and commodities — such as wash trading, “spreading fear, and pump… Read More

October 3, 2024 @ 6:24 am By Omar Faridi  |  

CertiK has released their latest Hack3d: The Web3 Security Quarterly Report for Q3 2024. CertiK notes in a blog post that their Hack3d: The Web3 Security Report for Q3 2024 aims to serve as an essential resource and record of statistics for understanding security challenges… Read More

August 19, 2024 @ 10:27 pm By Omar Faridi  |  

In June, a team at CertiK conducting whitehat research discovered a “critical” vulnerability in the Kraken platform. This CertiK team then reportedly “notified the exchange to ensure this important vulnerability was fixed—which was a win for blockchain and Web3 security.” However, in conducting this work,… Read More

August 15, 2024 @ 8:22 am By Omar Faridi  |  

CertiK notes that during the past few months, their team has conducted extensive research on the Bitcoin ecosystem and its developments. CertiK also audited several Bitcoin projects and smart contracts based “on different languages, including OKX’s BRC-20 wallet and MVC DAO’s sCrypt smart contract implementation.”… Read More

July 9, 2024 @ 8:36 am By Omar Faridi  |  

CertiK has released its market update, entitled Hack3d: The Web3 Security Quarterly Report – Q2 + H1 2024. CertiK‘s Hack3d: The Web3 Security Report for Q1 2024 digital assets and blockchain ecosystem update is described as “the industry’s most comprehensive record of statistics and analysis… Read More

May 4, 2024 @ 12:37 pm By Omar Faridi  |  

Blockchain firm CertiK reports that during Q1 2024, BNB Chain noted continuous development in its security measures “resulting in a 55.8% decrease in value lost compared to the same period last year.” As stated in a blog post from CertiK, BNB Chain witnessed “a loss… Read More

April 30, 2024 @ 7:36 pm By Omar Faridi  |  

Formal verification is a process that mathematically proves the correctness of a system, ensuring it “behaves exactly as intended under all defined conditions.” the CertiK team notes in a blog post. CertiK explains that given the complexity and the high-stakes nature of blockchain technology, where… Read More

April 4, 2024 @ 1:47 pm By Omar Faridi  |  

CertiK has released its latest report, entitled Hack3d: The Web3 Security Report for Q1 2024. Hack3d is described by CertiK as being the industry’s most comprehensive record of statistics and analysis of on-chain security incidents. According to a blog post by CertiK, the research report… Read More

January 15, 2024 @ 8:14 am By Omar Faridi  |  

CertiK has released the Web3 Security Report for Q3 2023. CertiK explains that the report aims to serve “as an essential resource and record of statistics for understanding security challenges and vulnerabilities in the Web3 space.” The update from CertiK is intended to equip stakeholders… Read More

January 4, 2024 @ 4:56 pm By Omar Faridi  |  

CertiK has released its latest report, titled Hack3d: The Web3 Security Report for 2023. CertiK’s Hack3d reports offer deep dives “into the exploits, vulnerabilities, and trends that define blockchain and smart contract security.” According to CertiK, they’re an invaluable resource “for anyone seeking to understand… Read More

December 30, 2023 @ 12:17 pm By Omar Faridi  |  

Since its launch in March 2023, the BRC-20 token standard has swiftly garnered significant attention among investors and developers, “emerging as a key influencer in the evolution of the Bitcoin ecosystem,” according to an update from CertiK. CertiK has provided an initial overview of the… Read More