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]
  • BTC Weekly Outlook: A Bullish Week, but Signs Point to a Shift to Defensive Play 11 hours ago
  • Figma's IPO Triumph and Crypto Bet: How a Design Disruptor Stunned Wall Street After a ... 11 days ago
  • When Stablecoins Tear Down Banks’ Interest Margin Moats — A Third Look at the U.S. “Ge... 13 days ago
  • Twitter Space Highlight: Is Altcoin Season Coming? Unpacking BTC, Institutions & RWA 14 days ago
  • BTC Weekly: Momentum Top Divergence Signals Potential Shift Lower 14 days ago
  • You need to login to comment.