Private key leaks account for 40% of losses. Smart contracts are secure, but the human element has become the biggest weakness. MPC and account abstraction really should be popularized.

CoinWorld News, the crypto industry has lost approximately $16.69 billion in total due to hacker attacks, DeFi vulnerabilities, and cross-chain bridge attacks, with about 40% of the losses related to private key leaks rather than blockchain or smart contract vulnerabilities. Multiple industry insiders have stated that as smart contract security continues to improve, attackers are increasingly turning to private key management, cloud services, third-party tools, and personnel operations. The industry is gradually adopting solutions such as MPC wallets, account abstraction, and hardware wallets to strengthen key security.