DeFi losses dropped 40% in 2024 as advanced security measures strengthened protocols, while CeFi breaches surged to $694M.
Decentralized finance (DeFi) security experienced 40% fewer financial losses in 2024 than in the previous year due to improved protocols, stronger bridges, and advanced cryptographic measures.
According to block security firm Hacken’s annual Web3 Security Report, DeFi’s strengthened security measures through 2024 arrived in tandem with centralized finance (CeFi) facing a bleak reflection of the year.
CeFi breaches more than doubled while losses surged to $694 million as centralized exchanges became primary targets for access control vulnerabilities and other critical security risks.
