Over $45 million was lost to exit scams in May while exploits on DeFi protocols racked up less than half that amount over the same period.
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Over $45 million was lost to exit scams in May while exploits on DeFi protocols racked up less than half that amount over the same period.
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The month was particularly bad for exploits, with the amount lost accounting for half of the total crypto exploited so far in 2023.
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SlowMist found that across 303 recorded blockchain security incidents in 2022, nearly a third were made up of phishing attacks, rug pulls and scams.
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Blockchain security firm Peckshield shared the stats on Halloween night, but also added the month saw $100 million in crypto returned.
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While projects cannot wholly prevent bad actors from infiltrating the DeFi realm, security specialists say there are ways to deter such practices.
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Decentralized finance is exploding. Its security is not. Here’s how to prevent millions more lost in DeFi.
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