DeFi hacks drop 40% in 2024, CeFi breaches surge to $694M — Hacken

Decentralized finance (DeFi) experienced a 40% decrease in dollars lost to security incidents from 2023 to 2024 due to improved protocols, stronger bridges and advanced cryptographic measures. According to blockchain security firm Hacken’s annual “Web3 Security Report,” DeFi’s strengthened security measures arrived in tandem with centralized finance (CeFi) facing a bleak year