In 2024, the Web3 ecosystem faced substantial security challenges, with losses from hacks and exploits totaling approximately $2.9 billion. This alarming figure highlights the growing threats in decentralized finance (DeFi) and the need for enhanced security measures. A recent report from SlowMist indicates that January 2025 alone saw around $98.19 million in total losses from 40 hacking incidents, with $87.94 million attributed to these breaches. The report also identified over 9,220 victims of these attacks. As the industry grapples with these vulnerabilities, organizations are emphasizing the importance of security education and proactive measures to prevent future exploits. The year 2024 was marked by significant legislative activity, with 238 tech-related bills passed across 46 states, focusing on digital rights, privacy laws, and AI regulation, setting the stage for ongoing developments in 2025.