The DeFi ecosystem started 2023 on a bullish note, similar to the broader cryptocurrency market. However, the bullish start to the year didn’t diminish the damage caused by vulnerabilities and attacks in 2022.

A new research report has highlighted that DeFi was the most vulnerable crypto ecosystem, at the receiving end of 113 exploits out of the total 167. On top of that, blockchain security experts have warned the trend could continue in 2023.

MetaMask became the first prominent victim in 2023, as a new wallet scam emerged. The wallet address scam, called address poisoning, tries to take advantage of users’ carelessness. In other DeFi exploit news, an address connected to the $190 million Nomad bridge exploit has moved $1.57 million in Ether (ETH) to the sanctioned crypto mixer Tornado Cash.