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Security failures don\u2019t just drain funds, they often destroy trust, leaving most hacked crypto projects unable to recover despite fixing the technical flaws.<\/p>\n
Nearly four out of five crypto projects that suffer a major hack never fully regain their footing, according to Mitchell Amador, CEO of Web3 security platform Immunefi. <\/p>\n
Amador told Cointelegraph that most protocols enter a state of paralysis the moment an exploit is discovered. \u201cMost protocols are fundamentally unaware of the extent to which they are exposed to hacks, and are not operationally prepared for a major security incident,\u201d he said. <\/p>\n
According to Amador, the first hours after a breach are often the most damaging. Without a predefined incident plan, teams hesitate, debate next steps and underestimate how deep the compromise may go. \u201cDecision-making slows as teams scramble to understand what happ<\/a>ened, leading to improvisation and delayed action,\u201d he said, adding that this is frequently when additional losses occur.<\/p>\n Read more<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n