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

Published 01/11/2022, 01:50 PM
Updated 01/11/2022, 03:20 PM
© 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.

In a new report on the state of DeFi security in 2021, CertiK researchers said “centralization issues were the most common attack vector” within decentralized finance. The blockchain security firm cited 44 DeFi hacks totaling $1.3 billion in lost funds in 2021. That’s an increase of over $500 million compared with 2021.

Total TVL is down from record highs but remains well above $200 billion. Source: DeFi Llama

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