DeFi Loses $678 Million To Hackers In Q2 2022, New Report Reveals
The cryptocurrency market has suffered greatly, particularly since Bitcoin had its worst quarter in 11 years. According to data releasedby Immunefi, a leading bug bounty and security services platform, the Decentralize Finance (DeFi) ecosystem lost $678 million, in the second quarter of 2022. Immunefi Says Loss Is x1.5 Of Q2 2021 DeFi, an emerging financial […]
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2022 is a rough year for the DeFi ecosystem as hackers continue exploiting the community. From the beginning of the year till now, news of DeFi protocol exploits keeps flooding the crypto industry. So the question is: why do hackers keep targeting decentralized finance protocols? Today’s report reveals that three DeFi protocols have suffered hack […]
Hackers have stolen $100 million from decentralized finance (Defi) projects so far this year, according to a new report. Defi accounted for 50% of all hacks and thefts in the second half of the year. Defi Hacks on the Rise A new report by cryptocurrency forensics and blockchain threat intelligence firm Ciphertrace shows that $100 million have been stolen from decentralized finance (Defi) this year. The company detailed on Monday: In first six months of 2020, 45% of all thefts were Defi hacks, equating to about $51.5M — 40% of hacked volume for that time period. So far, in second half....
Decentralized finance (defi) protocol Pickle Finance was hacked for $19.7 million of the stablecoin DAI over the weekend, as the defi industry appears to be turning into a hackers paradise. Pickle’s native token (PICKLE) plunged 62% on the news, falling from $23.27 to $8.70 when the hack was first reported on Nov. 21. At the time of writing, the token has since rebound 29% in 24 hours to $18.51, according to Coingecko data. This is the fourth hack to hit the defi space in just two weeks. Akropolis, Value Defi and Origin protocol were exploited for a combined total of $15.7 million in....
Decentralized finance (defi) protocol Akropolis was on Thursday hacked for $2 million in DAI, in the latest flash loan attack to hit the nascent defi industry. The attacker pilfered the platform’s Ycurve pool in batches of $50,000 in the stablecoin DAI. This particular pool allows investors to trade stablecoins and earn interest. In a statement on Nov. 12, Akropolis revealed that the hack was executed across a body of smart contracts in its “savings pools”. “At ~14:36 GMT we noticed a discrepancy in the APYs of our stablecoin pools and identified that ~2.0mn DAI had....
Decentralized finance (DeFi) platforms have been the target of criminal attacks this year. Investors in the blockchain-based form of finance have lost billions of dollars to criminals that target the platforms. The total amount of money deposited at DeFi services has spiked from just $500 million in 2019 to $247 billion this year. Related Reading | Dog-Themed DeFi Project Mysteriously Loses Fundraised $60 Million According to a report from London-based firm Elliptic, the overall losses caused by DeFi exploits have totaled $12 billion in the past year. Out of that amount, fraud and....