Hacken CEO Urges Stricter Blockchain Security for 2025 | Airdrop Alert Pro

As cryptocurrency adoption grows and projects built on Web3 become more common, blockchain Safety has become a core pillar for users and developers.

In a conversation with BeInCrypto, Hacken CEO Dyma Budorin emphasized the need for comprehensive compliance solutions in 2025.

Need for higher security measures

As 2025 approaches, experts are weighing how often blockchains suffer data breaches and their negative impact on user experience. Cryptocurrency security vulnerabilities are escalating this year, costing industries more than $2.9 billion, according to a recent Web3 security report Report Developed by cybersecurity company Hacken.

Access control vulnerabilities have become a major threat vector, accounting for 75% of all hacker attacks. This trend is observed across Decentralized FinanceCeFi and gaming/metaverse platforms, highlighting a wide range of A security breach has occurred Relevant to operational security and access management. Phishing Scam Significant damage was also caused, causing losses in excess of US$600 million.

“It is clear that the industry can no longer ignore operational security. Comprehensive auditing, strict access control protocols and strong key management systems must become standard practice,” Budolin said in an interview with BeInCrypto.

The significant losses experienced in 2024 highlight the urgent need for the crypto industry to prioritize comprehensive security measures and comprehensive audits to reduce future breaches and protect user assets.

A bad year for access control

Budorin sees access control issues as the most critical challenge facing blockchain security today, particularly the loss of private keys among project teams, affecting CEOs and developers alike.

According to Hacken’s report, access control vulnerabilities, primarily related to private key leaks, will cost more than $1.7 billion by 2024. This is a significant increase from the $1 billion reported the previous year.

“Notably, major incidents such as Radiant Capital and Orbit Bridge have highlighted the consequences of weak key management and the lack of multi-signature solutions or regular audits,” Budolin added.

October, one Major hack targeting Radiant Capital Resulting in $55 million in losses and affecting more than 10,000 users. Violations involved Hackers exploit vulnerabilities Control of Radiant’s three private keys allowed them to siphon funds from the platform.

Attackers exploited the vulnerability by injecting malware into developer devices, allowing them to intercept and manipulate legitimate transaction approvals despite using a hardware wallet.

Orbit Bridge, cross-chain bridging serviceIt suffered a more serious hack on New Year’s Eve last year, causing about $82 million in losses. Hacken said that the incident was the largest DeFi hacking incident in 2023.

Despite using Multi-signature technologyTypically requiring multiple parties to authorize transactions, attackers compromised seven out of 10 signers, highlighting a serious vulnerability in the system.

The stolen funds were mainly stablecoins, including USD 30 million USDT, USD 10 million USDC, USD 10 million Day. In addition, 231 World Bitcoin Exchange ($10 million) and 9,500 ETH ($21.5 million) stolen. The hackers moved the stolen funds through intermediary addresses and then laundered them through cryptocurrency mixers.

Prioritize higher cybersecurity standards

Budorin said that by 2025, all projects developed on the blockchain should achieve mandatory compliance.

“Mandatory compliance in 2025 will mark a turning point for the crypto industry, driving much-needed transparency, accountability and operational resiliency. Regulations such as MiCA (Crypto-Asset Market), DORA (Digital Operations Resilience Act) and AML Package will require centralization Crypto service providers, custodians and other actors implement higher cybersecurity standards, robust reporting mechanisms and strict operating procedures,” Budolin told BeInCrypto.

In addition to these governing regulations, Budolin urged all blockchain projects to address cybersecurity concerns by adhering to the Cryptocurrency Security Standard (CCSS). CCSS provides a comprehensive framework to enhance the security of cryptocurrency systems.

The layout of CCSS emphasizes thorough key management practices. Among its compliance mechanisms, CCSS controls require the use of standardized random bit generators for secure key generation to minimize the risk of key compromise.

Enforce encrypted storage and controlled access mechanisms to prevent unauthorized key use. Conversely, properly implemented multi-signature settings and distributed key management can reduce the risk of exploitation by any single entity.

These standards recommend implementing multiple layers of security, conducting regular security audits, and establishing strict access control guidelines.

By complying with CCSS, organizations can significantly improve the protection of private keys. This will reduce the frequency and severity of security breaches related to access control vulnerabilities.

Budorin believes that such losses could have been avoided if Radiant Capital and Orbit Bridge had complied with CCSS guidelines.

UAE positions itself as leader in blockchain security

Some countries have adopted extensive protocols to ensure that Web3 participants adhere to operational security practices.

“The UAE, and specifically Abu Dhabi Global Market (ADGM), is emerging as a global leader in blockchain security and innovation due to its forward-looking regulatory framework, strategic vision and ability to cultivate a thriving technology ecosystem.” Budolin said.

this ADGM is a financial free zone Located on Al Maryah Island in Abu Dhabi. Established in 2013 by federal decree, ADGM serves as the city’s financial center and has an independent legal and regulatory framework.

“Abu Dhabi International Financial Center has become a regulatory pioneer in balancing innovation and compliance. By setting clear and progressive guidelines for blockchain and digital assets, ADGM attracts enterprises seeking to develop in a safe and compliant environment.” Budorin explained road.

In April this year, ADGM and Hacken signed a memorandum of understanding (MoU) to collaborate on enhancing blockchain security. The alliance aims to develop effective security standards and on-chain monitoring solutions within ADGM Distributed Ledger Technology (DLT) basic framework.

“We are working together to set the global standard for Web3 security by providing cutting-edge security auditing, penetration testing and compliance solutions to blockchain projects in the UAE and beyond,” said Budolin.

Budorin hopes to see more collaborative efforts in the future that prioritize security and foster a sustainable Web3 ecosystem.