• In 2023, the DeFi losses to exploits hit around $1 billion.
• The overall DeFi TVL increased to over $51 billion.

As the year comes to a close, a recent post has pointed out the performance of the Decentralized Finance [DeFi] space. The data in the post revealed the extent of losses due to exploits in the space throughout the year.

Less DeFi losses recorded

According to a post by IntoTheBlock, 2023 is expected to record the lowest DeFi losses to exploits since 2020. Slightly over $1 billion has been lost to various exploits in the DeFi space this year.

Though this figure may still appear substantial, it significantly pales in comparison to losses of the last two years. 

The amount of yearly losses to exploits in DeFi are set to reach their lowest since 2020.! pic.twitter.com/abwfDFMEB8

— IntoTheBlock (@intotheblock) December 16, 2023

The data showed that in 2022, over $53.5 billion was lost to exploits — the highest recorded losses. In 2021, the loss amounted to nearly $4 billion, while 2020 experienced the lowest loss at $157.2 million.

Some major Defi exploits of the year

Throughout the year, numerous DeFi hacks have resulted in the loss of millions of dollars, with notable incidents involving SushiSwap [SUSHI], Bonq, and
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Author: Adewale Olarinde

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