DeFi Hacks See Lowest Losses in Two Years Despite $1.7 Billion Stolen in November

DeFi Hacks See Lowest Losses in Two Years Despite $1.7 Billion Stolen in November



A report from IntoTheBlock indicates that despite more than $1.7 billion being stolen in November alone, DeFi hacks are set to record their lowest losses in two years. Data from the blockchain analytics provider reveals that DeFi lending protocols and cryptocurrency bridges were the primary targets for hackers seeking to drain user funds. While lenders experienced 34 attacks resulting in $1.3 billion in losses due to theft, exploiters managed to pilfer almost double that amount in 10 separate incidents. Lucas Outumuro, head of research at IntoTheBlock, categorized DeFi exploits into two risk categories: economic and technical.



There is a higher number of technical exploits, but the losses stemming from economic factors are much larger. Most of the economic exploits can be attributed to flawed mechanism design, while the majority of


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