In an unusual turn of events, a hacker stole $1 million in cryptocurrency from the Zeed decentralized finance protocol, then failed to recover it. DeFi protocols, in general, are code sets that run on blockchains and allow for various financial transactions and transfers to be made using cryptocurrencies. The hack, according to Business Insider India, was akin to robbing a bank and then forgetting about the cash. According to the report, hacks and exploitations of DeFi protocols have accounted for nearly 97 percent of all cryptocurrency stolen this year.
