BestBrokers: The DeFi market has become the most attractive target for hackers – Bits Media

According to Bestbrokers analysts, Decentralized finance market (DeFi) became a favorite goal of hackers because of a large amount of venture money and safety problems.

Since the beginning of the year, the number of hacks in the crypto industry has been significantly reduced - by the middle June in the industry was registered in total 64 Case of safety violations. Last year for the same period it was recorded 251 case. but, despite the decreased number of hacks, damage, which they cause to the industry, increased.

So, if it was committed last year 251 hack for the total amount $3.2 billion, then this year about $1.7 billion in just 64 Case of safety violations. The average amount of funds stolen per hack was $26.6 million against $12.9 million last year. Compared to 2021 year the figure increased by 206%. At the same time in 2020 year, this figure was completely at the level $5 million.

Researchers
suggest, that hackers have begun to focus on larger targets, and the most attractive target for them was the DeFi market. Order 72% of all stolen cryptocurrency in 2021 year accounted for DeFi protocols, and this year the figure has increased to 97%.

BestBrokers cryptocurrency analyst Robert Hoffman (Robert Hoffman) stated, that DeFi attracts hackers due to the large amount of venture money, which flow into the market.

“The race to create a digital financial system for the fourth industrial revolution is extremely fast, and many stakeholders are vying for first place. Often in such cases, due to the rush, some aspect of the product suffers., including safety", - Hoffman said.

The previously decentralized financial lending service Inverse Finance was hacked for the second time in two months using an instant loan exploit.. This time hackers kidnapped $1.2 a million in BTC and USDT.