Cryptocurrency thefts reached record levels in 2022
According to research, the percentage of cryptocurrency stolen by hackers in 2022 has reached a record high of nearly $4 billion in annual digital coin thefts. Such figures only heighten security concerns in the digital asset market and especially in decentralized finance (DeFi).
Eun-Yong Choi, director of the National Cryptocurrency Enforcement Team (NCET), said DeFi's main problem is that "developers put growth before anything else. DeFi generally does not strive for better security and targets predominantly high performance protocols, putting all users' digital assets at risk.
Nevertheless, experts continue to analyze the possibilities and suggest a number of improvements for DeFi, such as standardizing the funds management process, more code reviews by third-party firms, and better disclosure to investors.
