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DeFi Security Vulnerabilities and Exploits 2021

Despite the series of obvious advantages, the DeFi platforms seem to face cyber attacks over and over again.

Although the DeFi was one of the key drivers of the digital currency market traction in the past year, it is still immature in the decentralized finance space. Add that the crypto and DeFi ecosystem is full of large scale scammers and hackers and you have a recipe for disaster. The cybersecurity of distributed exchanges, DEX’s that you can launch in an hour, is still weak and vulnerable to attackers and exploits and is a major harm to venture capitalists and crowdpooling projects. Lack of security audits due to the ability to clone on demand by non-technical anonymous founders creates fertile ground for clever hackers. Here are some of 2021’s hacks and exploits.

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