DeFi hacks in Q1 total $168M, a sharp drop from last year

Cryptocurrency losses from hacks of decentralized finance (DeFi) protocols totaled $168 million in the first quarter of this year, Cointelegraph reported. The figure represents a significant decrease from the same period last year, which was marked by a $1.4 billion incident involving Bybit. Among the incidents this quarter, Step Finance suffered the largest loss at $40 million, followed by Truebit with $26.4 million and Resolv Labs with $25 million.