- As much as $1.64 billion has been lost to hacks and rug pulls since BNB Chain’s inception in 2017.Some $368 million has been attributed to rug pulls, making it the primary target for launching nefarious tokens.There was a reduction in losses in 2023 and 2024 following a series of hard forks to address the network’s vulnerabilities.
The report examines a grand total of 228 instances ofrug pulls, which collectively amount to a significant loss of $368 million. The most substantial of these incidents occurred in November 2022, with the DeFiAI rug pull resulting in a loss of approximately $40 million.
Instead of “In contrast,” you could use “On the other hand” or “However.” For paraphrasing the given sentence, here’s a suggestion:
As a crypto investor, I’ve experienced a significant decrease in losses this year compared to the previous one. The causes were the ZhangHeng, Plato, and Hertz hard forks that took place last year, which aimed to enhance network security. Consequently, the total losses have dropped to a mere $38 million as of now.
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As a blockchain analyst, I have observed firsthand the various challenges that this technology has faced. In 2021, for instance, approximately $200 million were stolen through price manipulation of Venus Protocol’s native token. More recently, in 2022, the DeFi protocol Qubit Finance experienced a significant setback when the QBridge was hacked, resulting in a loss of around $80 million.
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2024-07-11 19:11