DeFi attacks are on the rise – Will the industry be able to stem the tide? By Cointelegraph

DeFi attacks are on the rise – Will the industry be able to stem the tide?

The decentralized financial industry (DeFi) has lost over a billion dollars to hackers in the last few months and the situation seems to be getting out of control.

According to the latest statistics, about $ 1.6 billion cryptocurrencies were stolen from DeFi platforms in the first quarter of 2022. Furthermore, over 90% of all crypto is stolen from hacked DeFi protocols.