By Shelly Melancon (Switzerland)
DeFiyield (an on-chain DEX aggregator) has revealed that its newest offering consists of a database of hacks, exploits, and scams in the DeFi space. The data was dated as far as five years, and it discovered that over 2,500 projects had been REKT during this period, all of which are worth $1.8B.
The project said the motive behind this offering is to avoid any future loss. “Our team has developed a large database of details involving various key events in the DeFi space. Thus, it will be almost impossible for anyone else to attempt doing the same thing in the future.”
Over 450 DeFi Exploit Events
Three months ago, DeFiYield revealed a collation which is termed the open audits collection. It consists of an audited database of smart contracts. This REKT collection is an expansion of that Open Audits collection. This REKT collection contains more than 450 DeFi exploits such as hacks, flash loans, and attacks.
It also contains a complete teardown of the technical problems involved and the amount of funds lost. The analytics firm remarked that scams regarding fast foods became more prominent during last year’s DeFi summer.
“The fast-food scams had the support of malicious developers who seemed honest and promised huge yields to unsuspicious victims.” This was one push the platform needed to create the open audits archive and the REKT database.
Also read:The firm also announced that it would soon expand the database to include more features, including accessibility to users through MetaMask or any other relevant crypto wallets. The top-ranked exploit in the REKT database was the recent heist on the poly network where the attacker moved $600m worth of assets. However, he has returned the majority of it.
TVL Across DeFi Projects
Since late last month, DeFi projects’ TVL has been rising gradually. A Dappradar data revealed that this value has surged by 460% since January 2021 and is now at about $122B.
As of this writing, Uniswap’s TVL is about $15.4B, and it’s the largest. Uniswap’s TVL is closely followed by that of Aave, whose TVL is approximately $12.9B. Curve finance’s $11B rounds up the top three based on the Dappradar data.
Fantom Token Jumps By 100% In 14 Days
In the last few weeks, SOL, LUNA, and ADA have set new peak prices. Now, another token is on the verge of hitting a new peak price. FTM is on a bullish run, reaching a multi-month high of $0.8978 today, following an almost 25% rise in the last 24 hours.
FTM gained 39% yesterday, and its circulation supply reached a 60-day high. Since the beginning of this month, FTM has been on a rally and is 13% shy of attaining its peak price of $0.9250.
FTM 24-hour chart. Source: TradingView
Many traders agree that FTM’s bullish run might result from the community’s announcement of a $325m incentive for its developers. Since that announcement, the FTM has been the topic of discussion among crypto traders on social media.
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