Based mostly on March 21 revealed Decentralized monetary evaluation firm OpenCover in 2022 DeFi insurance coverage firms paid out 34.4 million Necessary funds embody 22.5 million USD throughout the collapse of the Luna ecosystem in 2022 in Could and 4.7 million USD from cryptocurrency trade FTX collapse in 2022 in November.
Regardless of the rise in payouts, OpenCover mentioned solely 231 million folks had been insured, based on its figures. Cointelegraph reported on January 5 that The variety of DeFi safety exploits elevated by 47.4 p.c. yearly in 2022 as much as 3.64 billion International blockchain-related crimes, excluding monetary crimes, totaled $13.7 billion a yr. USD, wrote Chinese language blockchain safety firm LianAn Expertise.
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