'The Biggest DeFi Hacks 2021 and Their Impact on the Markets' by Isamiranmondal defitopstory defihacks
Decentralized finance in collaboration with cryptocurrency technology offers similar financial freedoms. They both remove banks and financial institutions' control over finances and financial services.
However, this financial freedom has led to the invitation of hackers' attempts to manipulate cryptocurrency security measures totaling billions.BitMart A DeFi service, Tornado cash, made the stolen assets laundering easy for the hackers and hard for the BitMart Company to trace the assets. BitMart had to endure the expenses of compensating their users' finances.Through a DeFi procedure, Badger Dao was hacked, and $120 million was stolen in different cryptocurrencies. The hackers used a DeFi protocol to spam users requesting additional withdrawal permissions where funds were withdrawn into the hacker's address.
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