Major Hacks Spell Doom for 80% of Crypto Protocols, Experts Say
80% of crypto projects fail after major hacks, says Immunefi CEO.
Nearly 80% of cryptocurrency projects cease to exist following major attacks, according to Mitchell Amador, CEO of the Web3 security platform Immunefi, in a statement to Cointelegraph.
He attributes the collapse primarily to “managerial chaos and loss of trust,” rather than the direct loss of funds. Upon discovering a vulnerability, most teams become paralyzed, unaware of the true extent of the breach and lacking a clear action…
