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

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.