The past year has been a painful one for many in crypto. Malicious actors drained over $3.7 billion worth of assets from Web3 protocols in 2022, representing a 189% increase over the $1.3 billion lost in 2021.

Understanding web3 security can be confusing for newcomers. On the one hand, the practices of decentralization that web3 is built on making it fundamentally more secure that its web2 predecessors.

CertiK audited a total of 1,737 projects in 2021. Using this data CertiK produced a report that discusses the most common types of security attacks, and incidents seen.