According to Foresight News, blockchain security firm Halborn has released a security report analyzing the top 100 DeFi hacking incidents from 2016 to 2023, with a cumulative loss of $7.35 billion. The majority of these attacks occurred on Ethereum, BNB Chain, and Polygon. On-chain attacks, including smart contract exploits, price manipulation, and governance attacks, were the most common. However, off-chain attacks, such as private key theft, accounted for 29% of the total attacks and 34.6% of the stolen funds.
Halborn also warned that most on-chain attacks happened on unaudited protocols, with only 20% of the hacked protocols having undergone audits. The primary reasons for losses were the lack of proper input validation or the exploitation of smart contracts. Cross-chain bridges remain a significant attack vector for malicious actors, and protocols are advised to thoroughly review the code before deploying cross-chain bridges.