North Korean hackers and shattered on-chain projects have had various decentralized financial block chains struggling, with tens of millions of user assets.
Data from Defillama shows that several Defi chains have lost around 90% of the total user deposits over the years, especially since the last crypto cycle. On-chain analyst 0xthoor identified Ethereum virtual machine-compatible blockchain harmony as the largest decrease with regard to the total value of Defi locked.
Harmony launched his Layer-1 Minnet in 2019, two years before the previous Bull Run and his 2021 peak. By January 2022 Harmony’s TV reached a record high, and surpassed $ 1.4 billion.
Six months later, in June, the North Korean Hackergroep Lazarus stole $ 100 million from Harmony’s Horizon Bridge in one of Defi’s largest hacks to date. Harmony’s user deposits fell steadily from that moment. The protocol kept $ 1.7 million in TVL by publishing time, with 99% of the ATH 2022.
Defi TVL for projects such as Aurora, Moonrise, Canto and EVMOs have also fallen by at least 90%. Even Polygon, a popular scale solution -based scale solution, has lost 92% of his TVL. Crypto collapsed on the L2 of $ 9.9 billion in 2021 to $ 700 million at the beginning of 2025. “Many more TVliters will look like this in the coming years,” Tweeted 0xthoor on 10 February.
TOTAL DEFI TVL currently fluctuates above $ 106 billion, a decrease of $ 175 billion in 2025. Despite the collapse of the large protocol, projects such as Coinbase incubated by Coinbase and emerging Bitcoin Defi Operability can increase the ecosystem on the chain to new heights .
