North Korean Hacks Spark $14B DeFi Exodus From Aave, Drift
- Source
- Financial Times
- Time
- 8:11 AM
- Weight
- 94/100
The decentralized finance (DeFi) sector is experiencing a massive investor exodus following a series of high-profile security breaches. Approximately $14 billion in capital has been withdrawn from the industry, with major protocols such as Aave and Drift bearing the brunt of the outflows.
This sharp decline in total value locked reflects a deepening crisis of confidence among investors regarding the safety of peer-to-peer lending and trading platforms. The withdrawal surge is largely attributed to sophisticated cyberattacks linked to North Korean hacking groups, who have increasingly targeted the crypto ecosystem to circumvent international sanctions.