Deep Tide TechFlow News, December 25, the annual Web3 security report from blockchain security company Hacken shows that thanks to protocol improvements, cross-chain bridge fortifications, and upgrades in encryption technology, the losses from DeFi security incidents in 2024 decreased by 40% year-on-year, from $787 million to $474 million. Among these, losses related to cross-chain bridge vulnerabilities dropped from $338 million in 2023 to $114 million.
In stark contrast, losses from CeFi security incidents doubled year-on-year to $694 million, with DMM exchange and WazirX suffering losses of $305 million and $230 million respectively due to private key leaks and multi-signature vulnerabilities. Hacken CEO Budorin stated that there are serious flaws in the operational security of CeFi, and there is an urgent need to strengthen private key management and automated monitoring.