Liam 'Akiba' Wright, an analyst at CryptoSlate, analyzed that "the scale of hacking damage in DeFi and traditional financial institutions (TradFi) is similar, but the loss rate compared to transaction volume is 85 times different." According to IBM data, the hacking damage in traditional financial institutions last year was $2.6 billion, while DeFi was $2.8 billion. In terms of damage scale, they are similar, but the loss rate based on transaction volume is 0.00007% for traditional financial institutions (transaction volume approx. $35 quadrillion), whereas for DeFi it is 0.006% (transaction volume $46 trillion). In this regard, Liam 'Akiba' Wright warned that it is "a warning sign in terms of reliability."
