DeFi hacks in October and everything latest you need to know

ambcrypto.com:

In the early hours of 12 September, some events occurred in the Decentralised Finance  (DeFi) space and the crypto space at large that would remain unforgettable.

Over $115 million was taken from four DeFi protocols—Rabby Swap, Temple DAO, Para Swap, and the biggest hack—Mango Markets—in what may be a new record.

A $2.3 million exploit affected the Temple DAO DeFi protocol. A Twitter user uploaded an on-chain transaction that was later confirmed by blockchain security company PeckShield.

Mango Markets, a DeFi protocol on the Solana network also suffered a breach of over $100 million due to an attacker changing pricing oracle data and enabling them to obtain uncollateralized cryptocurrency loans.

An insecure deployer address was also discovered on Para Swap, while Rabby Swap suffered a $200,000 loss due to its smart contract.

The Mango Markets exploit took an odd turn when the hacker behind the attack wanted a strange settlement.

The proposal was sent to the Mango Markets decentralized autonomous organization (DAO) governance forum, and the hacker used millions of tokens obtained through the exploit to vote in favor of it.

In light of recent hacks, Chainalysis data revealed that October appeared to be the month that hackers were most notorious. Additionally, 2022 has been the biggest year for hackers due to the number of hacks this year.

This month alone, 11 distinct hacks resulted in the theft of $718 million, while 125 hacks have resulted in over three billion being stolen so far this year.

Source: Chainalysis

DefiLlama data showed that DeFi’s Total Value Locked had likewise been disappointing thus far this year. From the graph, it was clear that the TVL had fallen dramatically, from over $150 billion locked in at the