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.

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