DeFi Losses To Exploits Hit Lowest Point in 2 yrs
A recent post by IntoTheBlock highlights the performance of the Decentralized Finance (DeFi) space, revealing the extent of losses due to exploits throughout the year.
The post predicts that 2023 will record the lowest DeFi losses to exploits since 2020, with slightly over $1 billion lost.
However, this figure is significantly lower than the losses of the last two years. In 2022, over $53.5 billion was lost to exploits, the highest recorded loss.
Notable incidents involving SushiSwap, Bonq, and SafeMoon resulted in millions of dollars in DeFi hacks. The DeFi Total Value Locked (TVL) on DeFiLlama showed a substantial decrease compared to previous years, but a slight uptrend began in October, and gradual growth has continued since then.
As the market shows signs of recovery, it remains to be seen whether the industry will continue to fend off DeFi attacks in the coming year.
(With inputs from Shikha Singh)
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