NGRAVE, in collaboration with Hacken, Cointelegraph Acceleration, and Web3 Antivirus, has successfully conducted its annual Crypto Security Check-up for 2024. Held from Q1 to Q2 2024, this initiative aimed to raise awareness about the crucial security decisions investors make regarding their crypto assets. The check-up involved an anonymous survey of 4,500 individuals across 130 countries, providing valuable insights into the current state of crypto security worldwide.

Key insights from the survey reveal that two out of five respondents had been the target of either a hack or scam. Alarmingly, one in three investors do not meticulously check every character of an address before making a transaction. Despite 30% of respondents rating their security measures as 9 or higher on a scale of 10, only 16% had a high level of security in reality.

With the end of a prolonged bear market and the anticipated arrival of a crypto spring, security has become more critical than ever. As more investors join and cryptocurrency values climb, the importance of security cannot be overstated. Even seasoned investors frequently neglect fundamental security steps; for example, only one in three meticulously verifies every character of an address before executing a transaction, and two out of five do not whitelist the addresses they send funds to.

Ruben Merre, NGRAVE Co-founder and CEO, expressed surprise at the findings, highlighting the significant educational gap within the cryptocurrency community. Dyma Budorin, Hacken CEO, emphasized the role of the end user in enhancing crypto ecosystem security, noting that it's not just about building safe protocols and contracts but also about equipping individuals with the necessary knowledge and tools to navigate the intricate landscape securely.

The survey data also revealed that nearly 70% of respondents store their assets in exchanges ranked within the top 10 according to CERlive, indicating a recognition of the importance of selecting reputable platforms for safeguarding investments. Additionally, the continued popularity of cold wallets remains evident, with one in three investors preferring these offline storage solutions. Among hardware wallet users, more than half have chosen QR code-based hardware wallets, reflecting a growing preference for air-gapped storage solutions.

The 2024 Crypto Security Check-up has provided invaluable insights into the state of crypto security, highlighting both progress and areas for improvement. As the crypto landscape evolves, education, awareness, and proactive security measures remain crucial. NGRAVE and Hacken are dedicated to empowering individuals with the knowledge and tools needed to safeguard their crypto assets effectively. With continued collaboration and vigilance, a more secure and resilient crypto ecosystem can be built for all.

About NGRAVE

Founded in 2018, NGRAVE is a digital asset security provider offering user-friendly maximum security solutions for blockchain and crypto use cases. Its flagship product, the NGRAVE ZERO hardware wallet, boasts the highest security certification: EAL7. NGRAVE partners with top-tier experts in nano- and chip technology, cryptography, and hardware security, and counts among its advisors several blockchain pioneers.

About Hacken

Hacken, established in 2017, is a trusted blockchain security auditor delivering high-quality solutions across all levels of blockchain security. Services include Smart Contract Audit, Blockchain Protocol Audit, dApp Audit, Penetration Testing, and CCSS Audit. Hacken’s product portfolio features HackenProof bug bounties, CER.live cybersecurity ranking, and Extractor on-chain monitoring.

The survey, conducted within Q1 and Q2 2024, collected over 4,500 unique responses from 130 countries. These answers form the basis for the data analysis and graphical representations provided.