The 5 biggest DeFi hacks of 2023

Ledger was recently exploited for an estimated $610,000 —  a reminder that security and privacy remain important priorities for the crypto ecosystem.

According to DeFiLlama, hackers have cost crypto startups and projects more than $1.3 billion in losses this year. Since June 2016, on-chain losses have amounted to an estimated $7.54 billion, with $5.69 billion hacked in DeFi protocols. 

Brian Pak, co-founder of Chainlight, told Blockworks that these exploits should be a fundamental reminder that security is still overlooked in much of the DeFi Ecosystem.

Read more: ‘Wallet drainer’ code added to Ledger library has crypto on edge

“As we enter into another bull market and…

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