Bridge attacks will continue to be a major challenge for DeFi in 2023 – security experts at Cointelegraph

Security was a key challenge for Decentralized Finance (DeFi) and its development. Between 2020 and 2022, hackers stole over $2.5 billion through vulnerabilities on cross-chain bridges, Token Terminal data shows. This is a significant amount compared to other security breaches.

Problems with bridges have a root cause: All have an “inherent vulnerability,” Theo Gauthier, Toposware’s founder and CEO, told Cointelegraph. According to Gauthier, no matter how secure a bridge is, it is “entirely dependent on the security of the chains it connects,” meaning that any breakage or failure within either of the two bridged chains renders the entire bridge vulnerable.

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