DeFi lending hack losses amount to $3 per $10K deposited, analysis finds

An analysis has found that hacking losses for users of EVM and Solana-based DeFi lending markets over the past year amounted to just three dollars for every $10,000 deposited. According to BeInCrypto, Keyring Network founder Alex McPharlane cited data from DeFiLlama, explaining that DeFi lending market hack losses, excluding bridges, totaled approximately $30.9 million over the last 12 months. This represents a loss rate of about 0.03% (3 basis points) against an average total value locked (TVL) of $99.6 billion. McPharlane added that the actual net loss is even lower when considering cases of fund recovery. For instance, Euler Finance successfully recovered all funds stolen in a past flash loan attack. The analysis suggests that while hacking risks in the DeFi lending market persist, they are becoming increasingly quantifiable to a level where insurance and risk management are feasible.