1inch: DeFi Must Learn from Recent Crypto Hacks

PANews reported on May 28 that 1inch Network stated in its official blog that the DeFi sector must learn from recent cryptocurrency hacking incidents. After a $1.4 billion hack on an exchange in February, it exposed the dual shortcomings of CEX and DeFi in risk management. The report suggests three major upgrade plans for CEX:

1) Replace interface summaries with manual decoding of transaction data;

2) Introduce "smart co-signers" for real-time transaction verification;

3) Shift to multi-party computation technology to split private keys.

For DeFi protocols, a multi-layer defense system should be built, including real-time risk intelligence, transaction monitoring, and wallet screening, to automatically intercept suspicious addresses and generate compliance reports through algorithms without compromising decentralization principles. 1inch emphasized that if the industry cannot establish a self-regulatory mechanism, it may lead to stricter external regulation. 1inch proposed a balanced solution of "85% free market + 15% programmatic rule layer," suggesting embedding basic security modules like anti-money laundering through open-source community standards.