According to the annual 'Web3 Security Report' by blockchain security company Hacken, due to protocol improvements, enhanced bridging, and more advanced cryptographic measures, the losses in the DeFi sector caused by security incidents decreased by 40% from 2023 to 2024.
At the same time, as CEX became a primary target for access control vulnerabilities and other significant security risks, CeFi security incidents more than doubled, with losses rising to $694 million. The surge in attack incidents is mainly attributed to access control vulnerabilities and notable events, such as the DMM exchange hack in the second quarter and the WazirX hack in the third quarter. These incidents involved private key leaks and multi-signature exploitations, resulting in thefts of $305 million and $230 million from the two exchanges, respectively.

The report shows that financial losses in DeFi significantly decreased in 2024, dropping from $787 million in 2023 to $474 million this year. Among these, losses caused by security incidents related to bridging have sharply decreased from $338 million in 2023 to $114 million in 2024.
Despite improvements in DeFi, such as multiparty computation and zero-knowledge proofs, challenges still persist. In fact, access control vulnerabilities account for nearly half of all DeFi losses, such as the $55 million hack of Radiant Capital.