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