DeFi projects suffered hacking losses in February. According to DeFi project aggregator DefiLlama, hackers stole more than $21 million from the platforms in February. Most of these stolen funds were lost due to cybersecurity levels.
The abuse of the decentralized financial protocol (DeFi) continues! DeFi project aggregator DefiLlama, which published statistics on a series of attacks in February, reported that the total damage was at least USD 21 million.
Playtpus Financial Investments Suffer Biggest Losses
Although more than one company suffered losses, Platypus Finance stood out as the company with the most losses. DefiLlama’s data on the USD 21 million losses also includes information on specific platforms. According to the report, hackers attacked Platypus Finance’s rating on February 16 and stole about $8.5 million.
The attack was caused by faulty matrix code, according to a report from Platypus’ auditor Omniscia. On February 23, the team stated that it had reissued about 78% of the frozen stablecoins in the main pool and had started the process of returning them. In addition, the team confirmed a new event of $8.5 million and $667,000 and stated that the February loss was $9.1 million.
The Smallest Financial Loss Was Reported By LaunchZone
LaunchZone, a DeFi technology based on the BNB blockchain, lost $700,000 to hackers in February. According to blockchain security firm Immunefi, the attack occurred on Feb. 27 because an attacker used an unverified contract to obtain money.
Total Loss Of More Than $20 Million
DefiLllama claims the damage is at least $21 million, according to the shared list. By 2021, $3.1 billion would have been compromised and the DeFi sector does not appear to have resolved the security issue with the hackers. The monetary value of the hacker attacks that exploited numerous vulnerabilities in February and the platforms that suffered losses break down as follows:
- BonqDAO – $1.7 million
- Orion Protocol – $3 million
- dForce Network – $3.65 million
- Platypus Financing – US$9.1 million
- Hope Finance – $1.86 million
- Dexible – $2,000,000
- LaunchZone – $700,000
- 740,000 for Midas Capital and ROE Finance.
In addition to these companies, there are also individual losses. Of course, in order to identify them, it is necessary that they are disclosed or have very large movements on the stock exchange. For this reason, it is important to be aware of the right moves.
