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Private Key Vulnerabilities Account for 40% of Crypto's $16 Billion Hack Losses, Says Pharos CEO
Private key vulnerabilities, not smart contracts, are responsible for 40% of the $16 billion in crypto hack losses.

Private key vulnerabilities, not smart contracts, are responsible for 40% of the $16 billion in crypto hack losses.

The cryptocurrency industry faces an ongoing security challenge, as current auditing methods are proving insufficient to safeguard against significant losses.

Aave's founder defended the DeFi protocol's resilience after an **$8.45 billion** outflow, attributing vulnerabilities to third-party entities despite data highlighting internal risk gaps.