According to DeFiLlama data, out of approximately $16.69 billion in losses from hacking attacks, DeFi vulnerabilities, and cross-chain bridge attacks in the crypto industry, about 40% are related to private key leaks, rather than blockchain or smart contract vulnerabilities. Multiple industry insiders stated that as smart contract security continues to improve, attackers are increasingly shifting to private key management, cloud services, third-party tools, and personnel operations. The industry is gradually adopting MPC wallets, account abstraction, and hardware wallets to strengthen key security. (CoinDesk)

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