Hacken’s 2024 report notes DeFi benefited from better security, leading to a 40% decrease in hacking incidents. Losses fell from 787 million USD in 2023 to 474 million USD, highlighting effective measures like stronger bridges and encryption.
Contrastingly, CeFi faced doubled breaches with losses reaching 694 million USD. MAJOR incidents like the DMM exchange hack raised red flags about poor access controls, stressing the urgent need for enhanced risk management and security protocols.
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