In 2024, decentralized finance (DeFi) has seen a 40% reduction in losses, while centralized finance (CeFi) has experienced a troubling increase in security issues, with losses doubling to reach $694 million. A recent security review by Galxe identified and resolved a critical vulnerability in the widely used zero-knowledge proofs (ZKP) library, snarkjs, which could have allowed attackers to bypass verification and expose financial and identity risks. Additionally, the Starknet-based protocol zkLend suffered a hack on February 11, resulting in a loss of $9.57 million due to a decimal precision vulnerability in its smart contracts. This breach highlights a shift in hacker tactics, as 81% of stolen funds in 2024 originated from access control breaches, contributing to a total loss of $1.9 billion, a 76% year-over-year increase. In contrast, losses from smart contract exploits have decreased by 25%.