DeFi Has a Risk Problem and It’s Time to Solve It

Not exclusive 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 period, 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 late-model Ledger hack, which saw $484,000 drained from wallets, was intricate and multi-layered, allowing the hackers to stealthily siphon assets from the billfolds of unsuspecting users.