Express

Hackers Stole $100 Million From DeFi Products In 2020 So Far

Emily Mason

Summary: Hackers have stolen $100 million from DeFi products in 2020, a new report from cybersecurity firm Ciphertrace has revealed. In the second half of 2020, DeFi accounted for 50% of all hacks and thefts. So far this year, the total of DeFi protocol and exchange hacks amounted to near 21% of the total hack and ...

Hackers have stolen $100 million from DeFi products in 2020, a new report from cybersecurity firm Ciphertrace has revealed.

In the second half of 2020, DeFi accounted for 50% of all hacks and thefts. So far this year, the total of DeFi protocol and exchange hacks amounted to near 21% of the total hack and theft volume. In 2019, DeFi hacks made up almost none of the hack and theft volume.

“This boom is ultimately what attracted criminal hackers to Defi, resulting in the most Defi hacks in a year to date,” the report states.

As enthusiasm and risk builds up in the DeFi space regulators like the Securities and Exhchange Commission are paying closer attention to DeFi and the crypto industry as a whole.

By Emily Mason

Last Update:

Tags: ,,,
Link: Hackers Stole $100 Million From DeFi Products In 2020 So Far   [Copy]
  • The Making of a Political Darling: Is Chainlink’s Government Deal a Victory for Tech or... 4 days ago
  • Google Steps Into Blockchain: A New Front in the “Ledger Wars” 6 days ago
  • Bitcoin Weekly Analysis: Is a Bear Market on the Horizon? 8 days ago
  • AI Fraud Is Breaking the Internet’s Trust Economy. Can Compliance Tech Keep Up? 11 days ago
  • Can a $300M RWA Fund Save Avalanche's TVL? 12 days ago
  • You need to login to comment.