$1.73 billion lost to weak access control with CeFi losses doubling in 2024, according to a new study by QuillAudits.
Analysts predict CeFi could achieve 100X returns in just two months, sparking interest from investors.
Pyth Network and Revolut team up to bridge Web3 and traditional finance by sharing Pyth's real-time market data with Revolut's users. This partnership aims to enhance DeFi, attract CeFi interest, and expand financial knowledge. Both companies are optimistic about revolutionizing finance and encouraging further crypto adoption.
DeFi hacks saw a 40% drop in 2024 thanks to better security, but CeFi breaches increased massively to $694M.
Avalon Labs has introduced USDa, a Bitcoin-backed stablecoin aimed at enhancing liquidity in both DeFi and CeFi ecosystems.
The Nexo app blends centralized and decentralized finance, enabling users to manage, trade, and earn interest on crypto assets. Established in 2018, Nexo offers a comprehensive ecosystem to maximize digital asset potential.
dYdX Foundation CEO Charles d'Haussy highlights the convergence of CEXs and DEXs, revealing only 5% of perpetuals are traded on-chain and announces the launch of 'dYdX Unlimited'.
Crypto hacks have surged to $2.1 billion in 2024, with CeFi platforms being the most affected, according to Cyvers. New threats like AI-driven attacks and quantum computing vulnerabilities are highlighted, emphasizing the need for real-time monitoring and robust regulations.
Centralized Finance (CeFi) platforms lost $413M to hacks in Q3 2024, with Ethereum and BNB Chain as key targets, according to Immunefi.
Crypto hacks have surged to $1.2 billion in 2024, marking a 15.5% increase from last year, as per the latest Immunefi report. A total of 154 cases have been reported, highlighting ongoing vulnerabilities in DeFi and CeFi projects.
Hacked cryptocurrencies usually suffer significant price drops and rarely recover. Over 51% of affected tokens saw prices drop by more than 50% within six months. CeFi infrastructure remains a major security vulnerability in 2024.
In 2024, over $1 billion has been stolen in cryptocurrency heists. July alone saw $269.4 million lost, predominantly affecting centralized exchanges like WazirX, which lost $235 million. DeFi frauds are less problematic compared to CeFi breaches.
In July 2024, the crypto ecosystem lost $269 million, with 87% of it stolen in a single CeFi hack.
In Q2 2024, attackers shifted focus from DeFi to centralized exchanges, resulting in significant crypto losses. Improved incident response and security measures were noted, but rising threats to Layer 2 solutions and gaming platforms are predicted.
Crypto hacks dropped by over 50% in June 2024, losing $176.2 million across 20 incidents on DeFi and CeFi platforms.
Ruslan Fakhrutdinov, ex-Revolut Head of Crypto Ops, has raised $6.5 million for X10, a hybrid crypto exchange blending CeFi and DeFi features.
Crypto exploits reached $1.4B this year as hackers target CeFi, with stolen funds increasing 900% YoY in Q2, says Cyvers.
Over 70% of hacked funds are lost to CeFi entities, according to Cyvers.
