DeFi Security Fears Resurface with $35M in Crypto Hacks

Crypto hacks have returned to DeFi, with three separate exploits resulting in $35.55 million in losses. This is a smaller amount than the $600 million lost during the Q1-Q2 hack wave that wiped out over 10% of Ethereum's TVL.

The latest hacks targeted cross-chain bridges, which are still one of DeFi's biggest security risks. The protocols affected include AFX, BSquared Network, and VerusCoin, with losses totaling $35.55 million.

This development comes as the Drift exploit resurfaces, with the hacker behind the $285 million heist moving stolen funds again through the Tornado Cash Router. This has injected fresh uncertainty into DeFi's recovery, which had been gaining momentum in July with a $10 billion increase in TVL.