Without further ado, a set of data will give you an intuitive feeling of how the development of cryptocurrency will be leaps and bounds in 2021.
According to various surveys and statistics of the Bitan Data Testing Center, the price of Bitcoin rose from $28,994.01 on January 1 at the beginning of the year to $46,306.45 on December 31 at the end of the year, and hit a record high of $68,789.63 on November 10; Ethereum rose from $737.71 on January 1 at the beginning of the year to $3,682.63 at the end of the year on December 31, and hit a record high of $4,891.7 on November 16. Led by Bitcoin and Ethereum, the total market value of the entire cryptocurrency market according to Bitan’s statistics rose from $773 billion on January 1 at the beginning of the year to $2,256 billion at the end of the year on December 31.
On the one hand, the market continues to be hot, and on the other hand, the entire cryptocurrency industry has also ushered in explosive growth. The endless innovations and applications have subverted our understanding and cognition of technology, business and culture: we have witnessed the explosion of the second layer of Ethereum expansion, smart contract audit we never thought it would come so suddenly; we have witnessed DeFi 2.0’s impact on traditional The subversion of the DeFi business model; we have witnessed the rise of NFTs to become a symbol of identity in the metaverse ecosystem; we have witnessed the rise of the play-to-earn model in the chain game ecosystem…
But the coexistence of opportunities and risks is the norm . Just like a coin has two sides, for the cryptocurrency industry, on the one hand, we have seen its booming ecology, but on the other hand, we have also experienced shocking security incidents. There will be at least 189 publicly reported security incidents across the cryptocurrency industry in 2021, and at least $7.6 billion in crypto assets will be lost in these security incidents.
These security incidents not only caused heavy losses to crypto asset holders, but also seriously affected and even hindered the long-term development of the entire crypto industry ecosystem.
The Bitan audit research team has studied 189 typical security incidents reported publicly, analyzed the reasons, and summarized the experience and lessons.
Research on classification of security incidents based on attacked objects
According to the different attacked objects, we divided the 189 security incidents into two categories: blockchain security incidents and DAPP security incidents. DAPP security incidents accounted for more than 95% of the total, with a total of 181 incidents, smart contract security of which only 8 were Blockchain security incidents.
Research on Classification of Safety Accidents Based on Accident Causes
Then we divided the 189 security incidents into three categories based on the causes of security incidents: caused by hacker attacks, caused by improper operations, and caused by improper behavior of the project party.
Recommendation: Security audit is the last word
After our (Bitan audit team) summary and analysis of security incidents in 2021, we propose the following suggestions:
1. Both developers and users refer to these suggestions to be cautious in daily development, maintenance, operation, and transactions, and do a good job in security precautions.
2. Developers need to pay special attention to the security of the front-end and the day after tomorrow, smart contract security audit especially in terms of auditing, auditing the front-end and back-end will become an inevitable option for auditing.
3. It is strongly recommended that users carefully review whether the relevant projects have audit reports before participating in cryptocurrency investment and interaction, and read the relevant audit reports carefully to know the third-party organization’s assessment of its security.
As the “golden signboard” of blockchain security audit, the Bitan Audit Center currently monitors more than 2,000 digital currencies. In the future, it will also adhere to the responsibility of “guaranteeing the comprehensive security of encrypted assets” to jointly promote the development of the crypto industry. Efforts for healthy development.
