DeFi Investors Pull $14 Billion Following Cyberattacks

Cryptocurrency investors are reportedly exiting the decentralized finance (DeFi) space following two high-profile hacks. Close to $14 billion has been pulled from DeFi projects in recent weeks, the Financial Times (FT) reported Wednesday (May 6), citing the data firm DefiLlama. This came after hackers tied to the North Korean government stole $290 million from the KelpDAO platform and used the stolen funds as collateral to borrow $230 million from Aave , the sector’s biggest lender.