The amount of hacked funds related to cryptocurrency reaches 3 billion USD in 2024, with a decrease in the proportion of losses on DeFi platforms.

The amount of hacked funds related to cryptocurrency reaches 3 billion USD in 2024, with a decrease in the proportion of losses on DeFi platforms.

The amount of hacked funds related to cryptocurrency reaches 3 billion USD in 2024, with a decrease in the proportion of losses on DeFi platforms.

According to the annual cryptocurrency security report released by blockchain security company PeckShield, hacking and fraudulent activities related to cryptocurrencies saw a significant increase in 2024, with $3.01 billion worth of digital assets being stolen, an increase of about 15% compared to the $2.61 billion stolen in 2023.

Centralized Finance (CeFi) and Decentralized Finance (DeFi) accounted for almost equal losses in 2024, but the proportion of losses on DeFi platforms decreased. In 2022, DeFi platforms accounted for approximately 80% of the total $3.6 billion losses, which decreased to 70% of the $2.6 billion losses in 2023, and further decreased to 53.5% this year. This may indicate an improvement in the security of DeFi platforms.

PeckShield wrote on social media platform X:

The report from PeckShield also pointed out that Ethereum was the most targeted blockchain, accounting for 34.8% of the total incidents, followed by BNB Chain at 32.1%. The financial losses from Ethereum were also the highest, accounting for 47.3%, followed by Bitcoin, partially due to the increase in its price.

In terms of protocol categories, the blockchain gaming sector suffered losses of $502 million, accounting for 22.4% of the total losses, with vulnerabilities in PlayDapp resulting in $290 million in losses.

AI to help DeFi platforms defend against cyber attacks

Although the proportion of losses in DeFi and CeFi seems similar, the data collected by PeckShield highlights significant events such as the $305 million hack on DMM Crypto, which have a significant impact on the rise of losses in the CeFi sector. Critics argue that this indicates that DeFi platforms have not fully addressed the threat of cybercrime.

Supporters of DeFi believe that AI-driven tools can help strengthen platform security and counteract cybercriminals. Lingling Jiang, a partner at DWF Labs, believes that a new category called “DEFAI,” driven by AI, will emerge in 2025, making AI an integral part of decentralized finance.

Jiang emphasizes that the new solutions no longer focus on just patching vulnerabilities but on building a new generation of DeFi protocols that incorporate “security into every transaction.”

Luke Xie, co-founder and CEO of Satlayer, agrees and adds that AI-related solutions will provide early warnings “before potential attacks are fully exploited.” Xie explains that AI security solutions will help users avoid scenarios such as honey pot attacks and obvious rug pulls scams. Source of data: