Frequent Web3 Data Breaches: How to Protect Personal Privacy and Security?

In today's internet era, the main threats faced by individuals and businesses come from cyber vulnerabilities and attacks. The Web3 space is no exception, with security incidents ranging from the loss of exchange private keys to stolen user data. The leaked data can circulate in the dark web market for years, posing long-term risks to affected users.

According to statistics, among 74 security incidents targeting centralized Web3 entities, 23 resulted in a high risk of long-term data loss, with 10 data packets still available for purchase on dark web forums. Although law enforcement efforts to crack down on hacker forums can provide short-term restraint, this is merely a superficial solution.

Web3 security incidents can generally be divided into two categories:

1. Malicious use of protocols: exploiting vulnerabilities in smart contracts to gain economic benefits, usually with a clear start and end time.

2. Network Vulnerabilities: Attackers infiltrate internal networks to steal data or funds, constituting a persistent threat. Data breaches can cause long-term damage, especially when personal identity information is involved.

Since 2019, the number of retrievable data breach incidents has significantly increased. This is related to the general rise in hacking attacks during the pandemic and the prosperous development of the Web3 industry.

Stolen data is often sold on dark web markets or hacker forums. The destination of the data determines the long-term risks it poses to the original owner. Compared to data that is only sold on the dark web, data that is freely exposed on forums carries a higher risk.

For many years, hacker forums such as Raid Forum and Breach Forum have emerged one after another. However, recently law enforcement has intensified its crackdown, and many forums have been shut down. Currently, the hacker community is quite chaotic, and it will be difficult to form a new mainstream gathering place in the short term.

In contrast, data trading on the dark web market remains active. Among the 23 potentially retrievable data breach cases, there are 10 instances where (43%) has active sales listings on the dark web market.

Overall, the leaked data after 2019, especially the data still being sold on the dark web markets, poses the highest ongoing risk. Although many forums have shut down, we should assume that all leaked data may still exist somewhere and could reappear at any time.

To protect personal data and asset security, the following measures can be taken:

1. Limit the number of centralized services used, including centralized exchanges.

2. Use two-factor authentication whenever possible.

3. Consider changing any leaked information, such as email addresses or phone numbers.

4. Diversify assets by storing them in self-custody wallets and hardware wallets.

5. Reduce sharing personal data with centralized platforms.

6. Do not use duplicate passwords across different platforms.

7. Enable two-factor authentication for all accounts.

8. Regularly check data breach report websites.

9. Use credit monitoring services to monitor for potential identity theft and fraud.

Although security vulnerabilities cannot be completely avoided, the above methods can effectively reduce risks and protect personal privacy and asset security. In the Web3 world, staying vigilant and taking preventive measures is crucial.