The latest Q3 2024 report from CertiK indicates a significant drop in the number of crypto-related hacks, highlighting an improvement in security within the DeFi and Web3 ecosystems. Despite this progress, $171.3 million was still lost across 62 incidents. Additionally, a 25% reduction in DeFi losses was observed, although 95% of stolen funds remain unrecovered. Notably, crypto phishing losses dropped to $43 million in September, affecting nearly 11,000 victims. Forta Network's real-time threat detection, trusted by over 140 projects, is set to prevent 99.99% of on-chain attacks. Cyvers detected half of all major crypto hacks in 2023, emphasizing the importance of proactive security measures. However, a recent hack involving an unknown project resulted in a loss of over $130,000 due to price oracle manipulation. The Q3 2024 report also reveals that 28.7% of losses could have been prevented with automated security measures. In 2023, $1B was spent on audits while $2B was lost in exploits.