Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.

For DeFi, the last week of 2022 saw another slew of exploits, insider job accusations and exit scam drama. It all started on Christmas, when Defrost Finance, a decentralized leveraged trading platform on the blockchain, was exploited by a DeFi flash loan attack causing $12 million in losses.