Losses from cryptocurrency hacks jumped nearly 60% in the first seven months of the year to $1.9 billion, driven by a surge in funds stolen from decentralized finance (DeFi) protocols, analyst firm Chainalysis said in a blog post on Tuesday. From the report: During the same period last year, funds stolen from hacking amounted to 1.2 billion dollars. DeFi applications, many of which run on the Ethereum blockchain, are financial platforms that allow crypto-denominated loans to be issued outside of traditional banks.

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