Hacken Flags Audit Gaps as Q3 Crypto Hack Losses Reach $1.18 Billion
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Hacken says 77% of third-quarter crypto hack losses involved compromised suppliers, delayed fixes or systems outside the latest security reviews.
Crypto hacks caused $1.18 billion in losses during the third quarter, according to security firm Hacken, which warned that audits can leave investors with misplaced confidence.
The firm found that 77% of those losses were linked to compromised suppliers, fixes that were not implemented promptly or systems not covered by the most recent security reviews.
The findings highlight the limits of treating an audit as proof of ongoing security. Hacken’s assessment points to risks that can persist beyond the scope of a review, including supplier vulnerabilities and unresolved issues.
Source: CoinDesk
