TL;DR Breakdown Poly Network recently announced a 500,000 bug bounty Defi Search Volume Globally at an all time high following historic defi hackSkyrocketing growth in DeFi space pose overaching security question Poly Network recently announced a 500,000 bug bounty to the hacker dubbed as “Mr. White Hat’ behind the recent and biggest hack in the history of decentralized finance. The $610 million DeFi hack was reported by analysts after they noticed the movement of the funds from the Polygon blockchain, Ethereum, and the Binance Smart Chain. Following media reports on the incident, Data feeds from Google indicated more people had begun showing interest in DeFi, and search volume for DeFi-related terms was at an all-time high. Source: Google Trends | Defi Search Volume Globally According to the following feed, the Polygon Network also received its fair share of interest after interest peaked at an all-time high on Google. Source: Google Trends | Polygon Network Search Volume Globally Q2 DeFi Data and the significance of the Poly Network DeFi Hack The attack comes at a very significant time in the history of decentralized finance. This can be explained by numbers witnessed on the DeFi space as Q1 of 2021. Data from Consensys indicates there are approximately 161 million unique addresses on Ethereum. The number is a 10 percent increase from figures measured in Q1 2021. Granted that DeFi growth begun peaking a...
