Crypto hacks are a wake-up call for DeFi
Crypto hacks underscore the urgent need for CEXs and DeFi to overhaul their security, collaborate on risk management and embrace self-regulation.
Opinion by: Orest Gavryliak, chief legal officer, 1inch Labs
The Bybit breach in February smashed the record for the biggest hack in crypto history. More than $1.4 billion was stolen by North Korean cybercriminals in the blink of an eye, with the audacious heist making headline news around the world.
Now, as TRM Labs reports, $2.1 billion worth of crypto has been lost to attacks in the first half of 2025. That’s an exorbitant amount of money, and yet, the hacks seem set to continue.
