DeFi Losses from Exploits Hit a 2-Year Low in 2023
Date: 2023-12-17 Author: Dima Zakharov Categories: BLOCKCHAIN
The year 2023 has seen a remarkable decline in DeFi losses caused by exploits, with the market showing signs of growth. According to data from IntoTheBlock, the losses incurred by the DeFi sector from exploits in the nearly concluded year barely exceeded $1 billion.
Here is a breakdown of DeFi losses over the years:
2022: $53.5 billion (the highest level on record)
2021: $4 billion
2020: $157.2 million (the lowest level on record)
Despite the relatively modest figures, 2023 witnessed some high-profile incidents, including the exploits of SushiSwap and SafeMoon.
In related news, SafeMoon has filed for bankruptcy, resulting in a 42% drop in the SFM token's value.
Another concerning development for DeFi is the decrease in capital inflow. Total Value Locked (TVL) has been declining since late 2022, although a slight resurgence was observed in October 2023. As of the time of publication, the TVL for the entire DeFi market stands at $51.3 billion.
