DeFi-Related Hacks Account For 76% Of All Major Hacks in 2021
Cybercrime is on the rise
Decentralized finance (DeFi) is a system that allows for financial products to become available on a public, decentralized blockchain network. Instead of going through intermediaries — such as banks or brokerages — buyers, sellers, lenders, and borrowers can interact peer to peer through DeFi when facilitating transactions.
According to the recent Atlas VPN team findings, DeFi-related hacks make up 76% of all major hacks in 2021. In addition, many fraudsters have started fake DeFi projects to benefit from the crypto industry hype.