As a managing partner at Dragonfly, Haseeb has previously analyzed trends in crypto security and has been cautiously optimistic about the impact of AI models on code audits. This time, he directly refutes the 'hackpocalypse' prediction with data, continuing his data-driven style.

In terms of capital pathways, funds like Dragonfly are mobilizing resources by supporting security tools and audit projects. Large protocols are increasing investments in AI hardening to counter new model attacks, motivated by the need to protect TVL and maintain DeFi's status as a mainstream capital entry point.

Similar to the industry's shift towards audits and insurance following multiple cross-chain bridge attacks in 2022-2023, DeFi is currently transitioning from vulnerable small projects to a concentration of security in large protocols.

Structural Judgment: This essentially belongs to a capital concentration driven by technological substitution. While new AI models enhance attack efficiency, they also accelerate protocol security upgrades. Attackers are shifting towards smaller targets, leading to a concentration of funds in large protocols that can afford AI hardening. The mechanism is that projects with high safety margins attract more TVL and liquidity, creating a positive cycle.

ABAB News · Law of Cognition

The stronger the attack tools, the faster the defense iterations; security becomes a winner-takes-all arms race.
As the number of attacks rises, the scale decreases, with risks shifting from being dispersed to concentrated among the weaker.
Large protocols use AI for self-protection, while small projects become cannon fodder; capital always chases after moats.