According to crypto data analyst Kofi, DeFi attacks exceeded $6 billion in 2022.
The decentralized finance (DeFi) ecosystem reported that the total value of stolen funds exceeded $6 billion in 2022, according to data from Kofi, the analyst who gave solids to DefiLlama.
DeFi Hacks Hurt in 2022
The past year has been a year in which the cryptocurrency industry has suffered. Bankruptcies, hacks and more.
According to data on decentralized finance hacking, more than $6 billion was stolen in the past 2022, with hacks in decentralized finance.
The year 2022 was marked by a series of high-profile attacks and security breaches. The Ronin hack was cited as the biggest DeFi disaster of the year. According to Kofi, which compiles the DeFi data, the $6 billion figure represents the value of the stolen funds when they were first stolen. Nelson Ijih, a crypto analyst, tweeted that the figure would be even higher if other crypto hacks are included.
DeFi hackers carried out attacks using very different techniques to exploit vulnerabilities in Web3 projects. However, many of the most important and expensive hacks of the year were judged in three categories. The categories are: broken bridges, compromised keys, and flash loan exploits.