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Losses due to crypto hacks fall 67%, Bitcoin DeFi interest rises: Finance Redefined

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The losses linked to hacking and exploits in April declined by 67% from March.

Welcome to Finance Redefined, your weekly dose of essential decentralized finance insights — a newsletter crafted to bring you the most significant developments from the past week.

In other news, the Bitcoin layer-2 platform Stacks recorded its highest number of active users as interest in Bitcoin DeFi, or BTCFi, surged. The 67% is a sharp decline from the $187.6 million hacked in March, which pales compared to the $360.8 million worth of digital assets hacked in February, according to a May 1 X post by on-chain security firm PeckShield.Leading Bitcoin layer-2 network Stacks has reached an all-time high in active users, driven by a growing interest in Bitcoin-native DeFi.

Pseudonymous cybersecurity researcher Marco Croc from Kupia Security identified a reentrancy vulnerability in the DeFi protocol Curve Finance. In an X thread, he explained how the bug could be exploited to manipulate balances and withdraw funds from liquidity pools.

 

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