The Biggest DeFi Hacks 2021 and Their Impact on the Markets

Too Long; Didn't Read

Decentralized finance (DeFi) in collaboration with cryptocurrency technology offers similar financial freedoms. DeFi allows users to hold on to their money in a digital wallet instead of a bank. It also allows the transfer of funds in a matter of seconds without the fear of financial charges they might have faced if they had used other financial companies. This financial freedom has led to the invitation of hackers' attempts to manipulate cryptocurrency security measures totaling billions. BitMart, MonoX Finance and Badger Dao were hacked, and $120 million was stolen in different cryptocurrencies.