DeFi Fraud and Theft Losses Skyrocket by 600% in 2021: Report.
20 Nov 2021, 08:00
DeFi Fraud and Theft Losses Skyrocket by 600% in 2021: Report
Blockchain analytics firm Elliptic says the rapidly expanding decentralized finance (DeFi) sector of the crypto world has seen fraudsters make off with billions of dollars in illicit gains.
In a new report called “DeFi: Risk, Regulation, and the Rise of DeCrime,” the firm coins the new term “DeCrime” to highlight the type of theft that has increased by 600% since 2020. Total losses as of this month were over $12 billion.