Definition ∞ DeFi hacks are security incidents where decentralized finance protocols or applications are exploited, resulting in the unauthorized loss or theft of digital assets. These exploits often target vulnerabilities in smart contract code, protocol design, or associated oracle systems. The consequences can range from significant financial losses to a decrease in user trust. Such incidents underscore the risks within the DeFi ecosystem.
Context ∞ DeFi hacks are a prominent and concerning topic in cryptocurrency news, with reports detailing millions of dollars in losses from various protocols. These incidents often trigger discussions about smart contract auditing, decentralized insurance, and the inherent risks of experimental financial applications. The frequency and scale of DeFi hacks significantly influence investor sentiment and regulatory attention toward the sector.
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