Hackers have stolen nearly a billion dollars from DeFi protocols over the past nine months

The DeFi sector has faced a massive wave of cyberattacks: since the beginning of the year, decentralized finance protocols have suffered 121 hacks, and total user losses have reached $ 942 million. This year is already being called one of the worst for the industry in its entire history.

The second quarter proved to be the most devastating—it was during this period that criminal activity peaked. Over the course of three months, 85 exploits were recorded, resulting in total losses of $ 775 million. DeFi has never seen figures like these before.

Amid the relentless attacks, investors began withdrawing funds from protocols en masse. The total value locked (TVL) in DeFi has fallen from $ 115 billion at the start of the year to $ 70 billion as of now—a drop of about 39%. This trend has hit the Ethereum and Arbitrum ecosystems the hardest.

That said, the current decline in TVL has not yet reached the scale of the previous bear market, when the metric plummeted by more than 70%. However, the combination of record-breaking hacks and liquidity outflows is putting serious pressure on confidence in the sector.

Experts emphasize the need for enhanced asset protection and thorough smart contract audits. For ordinary users, basic digital security rules remain essential: using hardware wallets, verifying contract addresses, and avoiding storing large sums on unfamiliar platforms.