Report: DeFi Fraud, Theft Exceeds $10 billion in 2021, 600% increase from 2020. $10.8 billion of which is attributed to fraud and theft, according to Elliptic report. DeFi platforms do not rely on central financial intermediaries to provide traditional financial services. Trading volume on decentralized exchanges has surged from $18 billion to more than $300 billion each month, report says. Experts say DeFi protocols become a “tempting honeypot for hackers and a deep pool of liquidity” for money launderers.”]
Source: https://www.cuinfosecurity.com/report-defi-fraud-theft-exceeds-10-billion-in-2021-a-17972