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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

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