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‘Centralization issues’ are the biggest culprits of DeFi attacks: CertiK -Breaking

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© Reuters.

Decentralized finance, better known as DeFi, may not be “decentralized” enough as attackers exploited centralized weak points to drain users of billions of dollars in 2021, according to research from blockchain security firm CertiK.

CertiK researchers released a new report entitled “State of DeFi Security in 2021” “centralization issues were the most common attack vector” within decentralized finance. According to the blockchain security company, 44 DeFi hacks cost $1.3 billion and resulted in $1.3 trillion in unclaimed funds by 2021. That’s an increase of over $500 million compared with 2021.

The total TVL fell from records highs while remaining well above $200 Billion. Source: DeFi Llama