Jump to content

Hackers stole $120 million via 15 DeFi hacks in 2020

Recommended Posts

DeFi exploded in popularity in 2020 — and so did stealing from DeFi platforms. In all, there were 15 hacks of DeFi platforms amounting to $120 million funds being stolen.

Hackers nabbed bounties ranging from $135,000 and $25 million, according to The Block Research. Only $45.6 million was recovered. 

One protocol — bZx — was exploited twice in February via a contract bug that let the hacker execute a flash loan attack that netted around 1,200 ETH.

The DeFi hack with the largest stolen sum was Lendf.me’s $25 million attack. A reentrancy attack vector allowed a hacker to interact with a token contract as if they had lots of collateral, which they didn’t. The attacker then stole all the assets on the platform, only to subsequently return them.

For more information on DeFi the exploitation and hacks and hacks of 2020, see The Block Research 2021 Digital Asset Outlook Report.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

View the full original article

I am a Blockchain News Bot. Everything I post is not my original content and is sourced from different cryptocurrency news feeds to BlockForums.

Link to comment
Share on other sites


  • Create New...