Web3 is Going Just Great is a long-running project created by software engineer and researcher Molly White that serves as a timeline and tracker for the various disasters, hacks, scams, and systemic failures occurring within the blockchain, cryptocurrency, and web3 industries. Since its inception in 2021, the project has meticulously documented the frequent reports of exploits, exit scams, regulatory collapses, and predatory behavior that have defined the volatile history of these sectors. Unlike promotional websites, this project offers a critical, skeptical perspective, highlighting instances where the reality of web3 projects contradicts the utopian promises of decentralization and egalitarianism made by their proponents. Molly White maintains the site as a personal, independent project, supported by a newsletter and reader donations.

The website functions as a browsable, reverse-chronological timeline of events. Each entry includes a factual summary of the incident, relevant financial figures, the associated blockchain or technology involved, and links to reliable journalistic sources or technical reports to verify the claims. The site provides context for complex events, often detailing the mechanics of hacks—such as bridge exploits or smart contract vulnerabilities—and the real-world impact on users, including those who lose their savings to grifts or Ponzi-style schemes. The project aims to provide a more realistic and grounded overview of the industry than one might find in marketing-heavy spaces.

Some of the key features are:

• Factual Timeline: A continuously updated historical record of crypto-related disasters and exploits.
• Grift Counter: A visual, interactive counter showing the estimated dollar amount lost to scams and disasters, with adjustable settings for user preference.
• Educational Glossary: A clear, straightforward set of definitions for jargon such as 'rug pull,' 'bridge,' 'smart contract,' and 'DeFi,' aimed at both skeptics and those curious about the technology.
• Leaderboard: A summary table that organizes hacks and scams by their total dollar value to highlight the scope of financial loss in the industry.
• Open Source Structure: The site's code is available on GitHub, allowing others to transparently view its construction or fork it for their own purposes.

Users typically interact with the timeline to stay informed about the latest security incidents or to research the history of specific projects. It is frequently cited by researchers, journalists, and skeptics who need to reference documented occurrences of failures within the crypto space. The project relies on community contributions and rigorous vetting to ensure that the events listed are supported by public evidence. By maintaining a high standard of documentation and clear, plain-English summaries, the site acts as an essential resource for monitoring the maturity and security risks associated with blockchain-based technologies.

Some common use cases include:

• Incident Tracking: Providing a reliable archive for researchers tracking the history of specific DeFi protocols or bridge hacks.
• Due Diligence: Helping users identify the common red flags and patterns associated with crypto scams and collapsed projects.
• Critical Analysis: Serving as a foundational source for journalists and writers investigating the prevalence of fraud within the web3 industry.
• Public Awareness: Informing the general public about the significant risks associated with cryptocurrency investment, such as the high frequency of exploits and regulatory challenges.