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Hyperliquid’s TVL Drops by $1 Billion Amid North Korean Hacking Fears
According to a recent report from Chainalysis, the total value locked (TVL) in DeFi protocols has dropped by a staggering $1 billion due to concerns over potential North Korean hacking attacks. This significant decrease is attributed to the dramatic increase in crypto thefts in 2024.
The report highlights that losses exceeding $50 million have become increasingly common, with hackers exploiting vulnerabilities in smart contracts and decentralized applications. This trend is particularly alarming as it represents a significant rise from the $660 million reported in 2023.
In fact, Chainalysis found that losses resulting from hacks have increased exponentially, reaching a staggering $2.2 billion in 2024 alone. Notably, these figures account for approximately 61% of the total loss.
Source: cryptoslate.com
