Academic Study Finds Flash Loan Attacks Drained $1.21 Billion, Over 80% on Ethereum (ETH)

Flash loan attacks drained $1.211 billion from DeFi between 2020 and 2024, with over 80% of losses occurring on Ethereum (ETH), according to a peer-reviewed study. The findings highlight the persistent security risks in decentralized lending protocols and the concentration of exploits on the largest blockchain network.