On May 21, 2025, Professor Gu Ronghui, co-founder of CertiK, was a guest on FintechTV and received an exclusive interview at the New York Stock Exchange, engaging in an in-depth discussion about hot topics in the blockchain security field. The interview focused on the highly anticipated Bybit and Coinbase events, analyzing the systemic risks exposed and sorting out key trends in Web3 security, providing important references and directions for the industry.
Bybit and Coinbase Events Highlight New Threats, Web3 Losses Exceed $1.67 Billion in 2025
In the interview, Gu Ronghui detailed the blockchain security status in 2025, particularly the risk points exposed in the Bybit and Coinbase security incidents. As network attack methods become increasingly complex, on-chain security incidents continue to rise. According to statistics, losses from global blockchain security events in the first quarter of 2025 have already reached $1.67 billion.
The Bybit attack was particularly noteworthy, targeting the Safe Wallet system and breaking beyond traditional smart contract vulnerabilities, exposing the urgent need for multi-layered security protection in the Web3 ecosystem. Gu Ronghui pointed out that such events remind the industry to accelerate the construction of more robust security mechanisms to address evolving attack methods.
Comprehensive Regulatory Framework Urgently Needs Improvement, Private Key Protection Becomes Core Issue
During the interview, Gu Ronghui emphasized the importance of developing a comprehensive regulatory framework that incorporates cybersecurity considerations. As crypto assets become widely applied, regulatory systems must continuously iterate to address the rapidly developing industry landscape. As an advisor to the Monetary Authority of Singapore (MAS) and a member of Hong Kong's Web3 Development Special Task Force, he drew on his professional experience in compliance to call for regulations that incorporate cybersecurity into their core scope, especially providing clearer guidance and protection in critical areas like private key protection.
Gu Ronghui also noted that compared to traditional finance, the Web3 industry places significantly more emphasis on data privacy. Web3 investors generally view privacy and security as core demands, reflecting the market's increasingly strong need for "user-centric, security-first" system design. This trend is driving the industry towards a more transparent and secure ecosystem.
Looking Forward to Web3 Security: Balancing Regulation, Security, and Privacy
As blockchain technology continues to evolve, regulatory frameworks, network security, and data privacy are becoming key pillars driving healthy Web3 industry development. Against a background of increasingly complex risk forms, the industry urgently needs forward-looking and systematic solutions to build a more solid security foundation.
Under the continuous push of industry leaders like Gu Ronghui, the Web3 ecosystem is continuously accumulating practical experience and forward-looking solutions for addressing risks, laying the groundwork for the secure development of decentralized finance.
