Is DeFi No Longer Risky?… DeFi Exploits Drop by 40%

Uk Jin

Summary

Hacken stated that DeFi security has greatly improved, reducing exploits by 40% compared to the previous year.
It was analyzed that the decrease in cross-chain bridge hacking led to a reduction in DeFi exploit cases.
The sector with the largest amount of damage this year was CeFi, with $694 million, more than doubling from the previous year.

The security of decentralized finance (DeFi) has significantly improved compared to the past.

According to NewsBTC on the 25th, blockchain security company Hacken reported that DeFi exploits decreased by 40% in 2024 compared to the previous year.

The total damage caused by fraud and security failures in virtual asset projects in 2024 amounted to $2.91 billion. The damage in DeFi was recorded at $474 million, a 40% decrease from the previous year. The report analyzed that the reduction in cross-chain bridge hacking led to a decrease in DeFi exploit cases.

The sector with the largest amount of damage this year was centralized finance (CeFi), including exchanges. Centralized financial platforms recorded a total damage of $694 million this year, more than doubling from the previous year.

Additionally, it was found that games, metaverse projects, and others also suffered from hacking or fraud.