In 2022, Web3 and decentralized Finance (Defi) globally experienced a series of major exploits and attacks, which are no longer secret. From Luoning Bridge attacks to Xiongnu cyber hacking attacks, the top 10 vulnerabilities alone lost more than $2 billion.

In the Beosin Global Web3 Safety report 2022, it revealed that of the 167major safety incidents in the past year, these root causes were the softest due to the Defi incident. The Defi project was attacked 113 times, about 113 times of the total. 67.6% of the attacks were recorded.

Slightly inferior are trading hubs, irreplaceable dynamic password (NFT) projects, cross-chain wireless bridges and wallet attacks.

According to this report, the Defi project ranked second in terms of financial loss, with a total loss of US $950 million. Prior to that, the development and design of the bridge caused a loss of $1.89 billion last year.

In 2022, all attacks on all project categories resulted in a total loss of $3.6 billion. This represents an increase of 44.4 per cent over the total loss of $2.4 billion caused by security breach-related incidents the previous year.

The alarm has long been sounded, and the Defi project is likely to beware of more contributions in the coming year.

Experts point out that many emerging Defi projects lack security testing before release, and the value of such projects is due to the focus of network hackers on the area.

In addition, blockchain security companies urge customers not to have a public key, and the loss of funds caused by public key leakage in 2023 is undoubtedly due to mismanagement.

Exploits are taking place in 2023. On January 3rd, cyber hackers stole $3.5 million worth of digital currency from GMX dolphins.

Even so, after the end of December 2022, Defi's assets were the least valuable, worth $62 million.