Centralized financial platforms (CeFi) are increasingly targeted by hackers, with over 70% of stolen crypto funds coming from these breaches, according to Cyvers CEO Deddy Lavid.
Major causes include code vulnerabilities and human error. Lavid emphasizes the need for robust security frameworks, including real-time threat detection and AI integration.
Cyvers reports a 900% increase in losses from centralized exchanges compared to 2023, with incidents like the $235 million hack of WazirX underscoring the urgency.
Improving security measures is crucial for maintaining investor confidence and fostering sustainable growth in the crypto market.
