PANews reported on December 25 that according to Cointelegraph, according to the annual "Web3 Security Report" of blockchain security company Hacken, due to protocol improvements, improved bridges and more advanced encryption measures, losses caused by security incidents in the DeFi field decreased by 40% from 2023 to 2024.
Meanwhile, CeFi security incidents more than doubled, with losses rising to $694 million, as CEXs became the primary target of access control vulnerabilities and other major security risks. The surge in attacks was largely attributed to access control vulnerabilities and notable incidents such as the DMM exchange hack in Q2 and the WazirX hack in Q3. These incidents involved private key leaks and multi-signature vulnerability exploits, resulting in the theft of $305 million and $230 million from the two exchanges, respectively.
The report shows that financial losses in DeFi have dropped significantly in 2024, from $787 million in 2023 to $474 million this year. Among them, losses caused by bridge-related security incidents have dropped sharply from $338 million in 2023 to $114 million in 2024. Despite improvements in DeFi, such as multi-party computing and zero-knowledge proofs, challenges remain. In fact, access control vulnerabilities account for nearly half of all DeFi losses, such as the $55 million Radiant Capital hack.
