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DeFi Losses Top $600 Million in Three Weeks as TVL Falls to $82.4 Billion

The source says decentralized finance, or DeFi (blockchain-based financial services), lost more than $600 million in recent exploits, while total value locked, or TVL (assets deposited in protocols), fell to its lowest level in a year.

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Terms & Concepts
  • DeFi: Decentralized finance, or DeFi, refers to blockchain-based financial services such as lending, trading, and yield products that operate without traditional intermediaries.
  • TVL: Total value locked measures the value of assets deposited in crypto protocols and is commonly used to track activity and liquidity in decentralized finance.
  • Exploit: An exploit is a security attack that takes advantage of a vulnerability in smart contracts or protocol design to extract funds.