Hacks, Houdini acts, and rug pulls: why DeFi smart contracts must be more secure than smart in 2022.

January 5, 2022 admin DeFi 0

Synopsis

As crypto assets became more mainstream in 2021, incidents of hacks and rug pulls also increased. Decentralised finance of DeFi accounted for 76% of all major hacks last year. On the other hand, the value locked in DeFi products rose to USD300 billion. How does one stay safe and benefit from DeFi products? Here’s our take.

The year 2021 was kind for the world of cryptocurrencies. Happiness came in pockets from around the world. Central American country El Salvador, for its own reasons, adopted Bitcoin as a legal tender. The US finally got its first Bitcoin exchange-traded fund. The total market cap of crypto tokens increased from USD776 billion to USD2.2 trillion last year — that is more than the GDP of Russia or Canada.In brief, crypto assets came a long way from

BY

10 mins read, Last Updated:

  • GIFT ARTICLE
  • FONT SIZE

    AbcSmall

    AbcMedium

    AbcLarge

  • SAVE
  • PRINT
  • COMMENT

Sign in to read the full article

You’ve got this Prime Story as a Free Gift

Already a Member?

Great New Year Sale

GET FLAT 30% OFF

On ET Prime & stay ahead of the rest in 2022

Get Offer

Why ?

  • Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors

  • Stock analysis. Market Research. Industry Trends on 4000+ Stocks

  • Clean experience with
    Minimal Ads

  • Comment & Engage with ET Prime community

  • Exclusive invites to Virtual Events with Industry Leaders

  • A trusted team of Journalists & Analysts who can best filter signal from noise

This news is republished from another source. You can check the original article here.

Be the first to comment

Leave a Reply

Your email address will not be published.


*