Not only is the risk not diminishing, but the attacks are also becoming more sophisticated. Take the recent KyberSwap hack, for example, which resulted in losses of $54.7 million. At the time, the protocol called the exploit “one of the most sophisticated in the history of DeFi”, requiring a “precise sequence of on-chain actions”. Similarly, the recent Ledger hack, which saw $484,000 drained from wallets, was intricate and multi-layered, allowing the hackers to stealthily siphon assets from the wallets of unsuspecting users.
Source: https://www.coindesk.com/consensus-magazine/2023/12/20/defi-has-a-risk-problem-and-its-time-to-solve-it/?utm_medium=referral&utm_source=rss&utm_campaign=headlines