Report: Half of all DeFi exploits are cross-bridge hacks
2022/10/20 01:00
According to a new report by crypto data aggregator Token Terminal, approximately 50% of exploits in decentralized finance, or DeFi, occur on cross-chain bridges. In two years' time, more than $2.5 billion has been stolen by hackers via exploiting vulnerabilities on cross-chain bridges. The amount is enormous in comparison to other security breaches, such as DeFi lending hacks ($718 million) and decentralized exchange exploits ($362 million) in that period. Immunefi CEO and security expert Mitchell Amador explained that some developers in the DeFi space are simply lacking the necessary knowledge to secure such complex mechanisms：“Many developers launch projects by simply copying and pasting code from other projects. When one of these projects has a vulnerability, others usually have that vulnerability as well. Open source smart contracts, being visible and accessible to all, can easily attract blackhats who study them, discover where they're vulnerable, and exploit them.”
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