Today news
About the same in other media
01.12 - 03:13
Criminals have made off with over $10 billion in 'DeFi' scams and thefts this year
Reading now: 657
cnbc.comLONDON — Investors have lost billions of dollars to criminals targeting so-called «decentralized finance» platforms this year.
According to a report from London-based firm Elliptic, more than $10 billion worth of user funds has been stolen in cases of fraud and theft on DeFi products, which aim to replicate traditional financial services using blockchain technology.
DeFi has often been referred to as the «Wild West» of cryptocurrencies. Such services often promise users huge returns but lack any involvement from middlemen like banks. High-interest rate savings and lending products are a common sight in the space.
But, as is to be expected with a young industry like crypto, DeFi platforms aren't regulated. It's something regulators have
Read more on cnbc.comAbout this in other media
Eurozone’s Fiat Is Plunging – And Probably Won’t Bounce Back Soon cryptonews.com /3 years ago
Britain and Israel to sign trade and defence deal theguardian.com /3 years ago
Getting dividend as regular income? Beware! You have to pay tax and reveal it in ITR this year financialexpress.com /3 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
