How to prevent cyber threats from increasing your investments

CertK Alerts, a cyber security firm, reported an increase in cryptocurrency incidents in October 2024, excluding phishing, which was higher than the average of 40 recorded for the year. Yet, damage was rare and relatively less in terms of money; A total of $2.6 million was seen, the lowest recorded so far this month in 2024.

The decrease in losses indicates a change in attack patterns or success, as there were far fewer high-severity violations than in previous months.

Vulnerabilities will be key players

Of these threads, slightly more than 17 are due to a code weakness, which is more than the once-a-month figure. Despite the risk of vulnerability exploitation, there were few cases of losses of $1 million or more.

This is in contrast to previous months, when exposures indicated more losses. It means that despite all the vulnerabilities, the attackers either cannot exploit them or focus on smaller projects.

Also read: Chinese official sentenced to death for selling government secrets to cover crypto debts

Present Moses about the future welfare and events

Although the numbers recorded last month indicated positive trends, they showed a high level of risks arising from damage, so it is important to improve their security level, especially for the crypto market.

As we approach the end of the year, exchanges, DeFi platforms and investors should be especially cautious as the industry becomes increasingly popular with hackers.

A deeper focus on code security practices, routine and periodic checks and balances can be helpful in reducing the frequency of the above incidents and keeping financial losses in the downward spiral.