Funds Lost to DeFi Hacks More Than Doubled to $1.3B in 2021: Certik

Posted on by American Coins & Gold

Funds Lost to DeFi Hacks More Than Doubled to .3B in 2021: Certik
The amount of money lost in hacks of decentralized financed (DeFi) projects more than doubled to $1.3 billion in 2021, with centralization the most common vulnerability, Certik said in its inaugural “State of DeFi Security” research report.While the value lost climbed 160%, the amount was a smaller proportion of the total than in 2020 due to growth of the DeFi market, the security firm said in the report released on Wednesday. As a proportion of the crypto market’s capitalization, losses dropped by 17%, according to the report.The total value locked (TVL) in DeFi protocols at end-2021 was $243.88 billion, up…