Andre Cronje: DeFi is no longer decentralized, industry revolves around 'circuit breaker mechanism' leading to divergent security paths Odaily Planet Daily News: Andre Cronje stated that most decentralized finance (DeFi) protocols currently no longer meet the strict definition of DeFi, but are closer to commercial systems operated by teams, and there is industry debate over whether to introduce "circuit breakers" to address attack risks. In an interview, Andre Cronje pointed out that in the early days, DeFi was centered around tamper proof smart contracts, but now a large number of protocols rely on upgradable contracts, multi signature permissions, off chain infrastructure, and manual operation and maintenance processes, essentially transforming from "immutable public goods" to "operational profitable businesses". He stated that in the context of recent security incidents, including DeFi attacks at the levels of approximately $280 million and $293 million, industry risks have expanded from simple smart contract vulnerabilities to "Web2 style risks" such as infrastructure, permission control, and social engineering attacks. Regarding risk management, Flying Tulip, where Andre Cronje works, has recently introduced a circuit breaker mechanism to delay or queue withdrawals in the event of abnormal fund outflows, providing an emergency response window of approximately 6 hours to prevent systematic runs and further losses. However, this mechanism has also sparked controversy. Michael Egorov believes that circuit breakers may introduce new centralized attack surfaces, which, if controlled by signers or administrators, could become new security vulnerabilities or freeze risk sources. He emphasized that DeFi design should minimize human intervention as much as possible, rather than increasing manual control nodes. Industry analysis points out that this debate essentially reflects DeFi's transition from an ideal model of "code as law" to a realistic architecture of "mixed governance+operational control", while security boundaries are being redefined.