In the first half of this year, blockchain initiatives related to Web3.0 suffered losses of more than $2 billion due to hackers and attacks, according to a recent analysis.
According to Blockchain auditing and security firm CertiK, this year’s hacking figure exceeds the total for 2021. In the second quarter, approximately $308 million was lost across 27 flash loan attacks, up from $14 million in the first. Flash loans are a type of decentralised finance (DeFi) mechanism that allows borrowers to borrow extremely large amounts of cryptocurrency for extremely short periods of time.
