It feels like a daily occurrence that we read the news or scroll through Twitter to find another malicious attack within Web3. In the first half of 2022 alone, bad actors netted a staggering $1.9 billion in crypto hacks; up 60% from the year before.
Decentralized finance (DeFi) protocols are particularly susceptible to these devastating attacks. Eight of the ten largest attacks on crypto targeted DeFi protocols, resulting in a total loss of $2.47 billion. Despite current market conditions and the continued exploitation of protocols, the DeFi industry has remained resilient and continues to grow. At the same time, only around 2% of the total $54.08 billion of value on DeFi protocols are protected by a cover option.
The lack of insured digital assets within DeFi ecosystems is not an issue of access. The rise of DeFi exploits naturally led to the creation of new, on-chain insurance mechanisms called covered protocols. Nexus Mutual, InsurAce and Unslashed are three of the leading...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...