There was a loss of over 1 billion dollars due to various exploits throughout the year. There was a loss of over 53.5 billion dollars in 2022, but the losses in 2023 were far behind. The loss in 2021 was 4 billion dollars, and the lowest loss was 157 in 2020. It was recorded as 2 million dollars.

Market impact: Negative

#BinanceTurkeySquare

As we approach the end of 2023, a recently published report drew attention to the performance of the Decentralized Finance (#DeFi) field. Data in the report revealed the extent of losses from abuses in the field throughout the year.

Critical Report from IntoTheBlock!

According to a post by IntoTheBlock, 2023 is expected to record the lowest #DeFi losses from exploits since 2020. There was a loss of just over 1 billion dollars. This year

It was lost due to various exploits in the#DeFispace. While this figure still seems significant, it pales in comparison to the losses of the past two years.

Released data showed that more than $53.5 billion was lost due to exploits in 2022. This number is the highest loss ever recorded. While the loss was approximately 4 billion dollars in 2021, the lowest loss was experienced in 2020 with 157.2 million dollars. Numerous DeFi hacks throughout the year resulted in millions of dollars in losses.

On April 9, reports were published that SushiSwap had been exploited. Decentralized Exchange (#DEX) suffered losses of over $3.3 million for at least one user. The exploit, caused by a validation-related bug in the RouterProcessor2 contract, caused a temporary drop in the price of SUSHI. However, after the security vulnerability was resolved, prices returned to normal. Additionally, BonqDao suffered a significant smart contract exploit in February, leading to the theft of an estimated $120 million from its protocol. The Bonq protocol fell victim to an Oracle attack that allowed malicious actors to manipulate the price of the AllianceBlock (ALBT) token.