Security issues remain critically important for the crypto industry, especially following the largest hacking attacks in recent years. Over $1.4 billion was stolen in the Bybit case alone, raising important questions about how to protect cryptocurrency platforms and users.
Crisis of Trust in the Crypto Industry
According to TRM Labs, $2.1 billion was lost to attacks in the first half of 2025, raising serious concerns about the security of crypto assets. These incidents threaten user trust in platforms and open the question of how to effectively prevent similar events in the future.
Necessary Changes for CEX
Centralized exchanges (CEX) must rethink their approach to transaction signing. Relying on user interface summaries is not enough; there is a need to manually decode call data. Implementing solutions like 'smart co-signers' can significantly enhance security by eliminating suspicious transactions. Additionally, shifting to multi-party computation can provide an extra layer of protection.
Critical Measures for DeFi
DeFi protocols must establish robust mechanisms to prevent manipulation of their platforms. Utilizing risk intelligence, transaction monitoring, and risk management software will help block suspicious operations. Sustainable collaboration among all participants in the crypto industry is also crucial for enhancing overall security and protecting users.
The crypto industry faces significant risks, and preventing cyber attacks through innovative security measures remains crucial. Both CEX and DeFi must work towards creating reliable systems capable of withstanding growing threats.
