2021 saw DeFi scammers run away with USD 10 bln in crypto

Friday 19 November 2021 14:48 CET | News

More than USD 10 billion worth of user funds has been stolen in cases of fraud and theft on DeFi products, according to a report from UK-based firm Elliptic.

Overall losses caused by DeFi exploits has totaled USD 12 billion so far in 2021, according to Elliptic, a firm which tracks movements of funds on the digital ledgers that underpin cryptocurrencies. Fraud and theft accounted for USD 10.5 billion of that sum — a sevenfold increase from 2020.

Over the last two years, the total amount of money deposited at DeFi services has spiked from just USD 500 million to USD 247 billion.

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Keywords: DeFi, fraud detection, report, cryptocurrency, digital assets
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies