Over $204M lost to DeFi hacks and scams in Q2: Finance Redefined

The popularity of Bitcoin’s BRC-20 token standard has led many leading wallet service providers to add support for the new token standard, and Optimism network transactions surged 67% following the Bedrock upgrade.

The top 100 DeFi tokens continued their bullish momentum into the last week of June, with most tokens trading in green.Over $204 million was lost in DeFi hacks and scams in the second quarter of 2023, according to a June 27 report from Web3 portfolio app De.Fi. The report, titled “Q2 De.Fi Rekt Report,” was partially based on data from De.Fi’s Rekt Database. Over $208.5 million was exploited during the quarter, but $4.5 million was recovered through prosecutions, deals with hackers and other recovery methods. According to the report, the number of DeFi hacks in Q2 rose by “almost 7 times” year-over-year, with 117 incidents compared with only 17 in the same quarter of 2022. In total, over $665 million was lost during the first half of 2023.

In the past, Maple relied on credit professionals, called “pool delegates,” to provide capital for these loans. For example, Celsius

The second quarter of 2023 saw over $208 million exploited and hacked from DeFi protocols, and with just $4.5 million of funds recovered, total losses to exploits were over $204 million.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BIS, 3 central banks look at DeFi technology for wCBDC FX in interim project reportThe Bank for International Settlements and the central banks of France, Singapore and Switzerland released a report June 28 on a model for foreign exchange trading that uses decentralized finance technology.
Source: Cointelegraph - 🏆 562. / 51 Read more »

AlloyX launches real-world DeFi asset vault after $2 million pre-seed roundDeFi protocol AlloyX has launched a real-world asset vault after a $2 million pre-seed funding round led by Hack VC.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Berlin: The Center for Decentralized Finance – and Techno MusicWhen the tech hub of Europe meets a society that prizes financial autonomy, the result is a crypto community that practices the very decentralization it preaches. Case in point: Blockchain Week Berlin, the flagship annual conference of the No. 10 spot in CoinDesk’s Crypto Hubs 2023, is a self-organized, crypto-agnostic community initiative.
Source: CoinDesk - 🏆 291. / 63 Read more »

KSAT Money Q&A: Personal finance creator shares tips for those struggling with debtPersonal finance creator Vee Weir joined the KSAT Money Q&A to share effective tips to help improve your finances. She discusses emergency savings, side hustles, expense tracking and other strategies to help people get on the right path.
Source: ksatnews - 🏆 442. / 53 Read more »

Maple Finance announces direct lending to fill the void left by BlockFi, CelsiusMaple Finance announces direct lending program to replace lost capital from Celsius, Blockfi, Genesis, other bankrupt firms
Source: Cointelegraph - 🏆 562. / 51 Read more »

U-KISS's AJ reveals he's now working at a finance company | allkpopOn June 29 KST, U-KISS appeared as guests on the SBS power FM radio 'Cultwo Show', delivering news of their 15th anniversary comeback.On …
Source: allkpop - 🏆 573. / 51 Read more »