Web3 Security Expert Interprets Blockchain Security Threats and Defense Strategies

With the rapid development of the Web3.0 field, blockchain security has become a key focus. A computer science professor from Columbia University is leading his team to comprehensively enhance the security protection capabilities of the blockchain ecosystem. By applying formal verification techniques to improve the security of blockchain and smart contracts, their company has become a leader in the field of Web3.0 security.

The recently released security report for the first quarter of 2025 reveals new trends in digital asset theft and security threats. The report explores the application of cutting-edge technologies such as zero-knowledge proofs and multi-party computation in security defenses, and provides practical advice for Blockchain developers. As traditional financial institutions gradually enter the Blockchain space, security challenges are also escalating, making it increasingly important to adopt proactive defense measures to protect users and maintain the integrity of the ecosystem.

The security expert stated that their mission is to continuously monitor and enhance the security of Blockchain protocols and smart contracts through advanced technology. To date, they have served over 4,900 enterprise clients, cumulatively protecting more than $53 billion in digital assets and identifying over 115,000 code vulnerabilities.

In the first quarter of 2025, losses from on-chain fraud incidents amounted to approximately $1.66 billion, an increase of 303% compared to the previous quarter. Among them, Ethereum remains the primary target of attacks, with just three security incidents causing asset losses of $1.54 billion. Even more concerning is that only 0.38% of the stolen assets were successfully recovered this quarter.

In the face of increasingly complex attack methods, the blockchain security industry is actively responding. Innovative technologies such as zero-knowledge proofs and on-chain security provide new possibilities for addressing the increasingly severe security issues, with hopes of achieving transaction auditability, attack tracing, and asset recovery while protecting privacy. Multi-party computation technology further enhances the security of key management by decentralizing private key control.

For blockchain developers and project teams, experts recommend prioritizing security as a primary consideration, integrating it into every stage of development. Additionally, seeking third-party security audits can provide an independent perspective to identify potential risks.

Artificial intelligence plays a dual role in blockchain security. On one hand, AI is used to analyze vulnerabilities and potential security flaws in smart contracts, enhancing audit efficiency. On the other hand, attackers may also leverage AI to strengthen their attack methods, which means the industry must invest in more robust security solutions.

Formal verification is a method of proving that a computer program operates as intended using mathematical means. It can be widely applied in various fields of the technology industry, including smart contract auditing. Experts emphasize that formal verification complements manual audits, together enhancing the overall security of smart contracts.

As traditional financial institutions enter the Blockchain space, the types and complexities of security threats are also changing. Early-stage attacks primarily targeted individual users or small projects, but as large enterprises join in, the security risks to network integrity will enter a new phase. It is expected that in the future, malicious actors will turn to more targeted enterprise-level vulnerabilities, such as misconfigurations, custom smart contract vulnerabilities, and security flaws in interfaces that integrate with traditional systems.