Decentralized finance (DeFi) security experienced 40% fewer financial losses in 2024 than in the previous year due to improved protocols, stronger bridges, and advanced cryptographic measures.

Losses from crypto hacks and scams declined by 40% year-over-year in the third quarter of 2024, falling to just $413 million, according to a Sept. 26 report from blockchain security platform Immunefi.

Crypto hacks dropped 44% year-over-year in January, but CeFi remains the prime target, accounting for 93% of total losses, Immunefi said. Cryptocurrency hackers continue stealing user funds, but ...