BlockBeats news: On January 18, according to Cointelegraph, Mitchell Amador, CEO of Web3 security platform Immunefi, stated that nearly 80% of cryptocurrency projects that have suffered major hacking incidents have never fully recovered. Most protocols do not even understand the extent of their risk of being hacked, nor are they operationally prepared for major security incidents.
Mitchell Amador said the first few hours after a breach typically are the most damaging. Without a pre-established incident response plan, teams hesitate, argue over next steps, and underestimate the depth of impact the breach could cause. This period is often the critical time when additional losses occur.
Out of concern for reputational damage, project teams often hesitate to pause smart contracts, while completely cutting off communication with users. Remaining silent often exacerbates panic rather than containing the issue. Nearly 80% of projects that have suffered hacking attacks have never fully recovered, and the main reason is not the initial capital loss, but the collapse of their operational and trust systems during the response process.