80% of Hacked Crypto Projects Fail to Recover, Industry Report Reveals
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- Impact of Security Breaches: According to a report by Immunefi, nearly 80% of cryptocurrency projects fail to fully recover after a significant security breach, highlighting critical vulnerabilities in security protocols and operational responses that lead to long-term failures and eroded trust in the industry.
- Delayed Response Issues: Many projects enter a state of paralysis following an attack, as teams often hesitate during crucial moments, failing to act swiftly, which exacerbates losses and further undermines user trust and project reputation.
- Rapid Erosion of Trust: Alex Katz, CEO of Kerberus, notes that post-hack, users typically withdraw funds, liquidity diminishes, and…
