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For the whole of 2020, losses in the crypto sector through fraud and crime were $1.9 billion. In 2019, crypto crime losses hit a record $4.5bn. Cryptocurrencies are once again in the spotlight with the surge in prices for the second-largest token, Ether, and social media darling Dogecoin. The drop in crypto crime reflects some maturity in the industry, as infrastructure improved and companies and exchanges boosted security systems. DeFi, however, is another story. The value locked – the total number of loans on DeFi platforms – was $86bn as of Wednesday, DeFi Pulse data showed, up roughly...

Cryptocurrency Crime Declines But ‘DeFi’ Fraud Soars: CipherTrace Losses from cryptocurrency theft, hacks and fraud fell sharply in the first four months of the year, but crime in the booming “decentralized finance” space hit an all-time high, a report from crypto intelligence company CipherTrace showed on Thursday. DeFi applications are platforms that facilitate crypto-denominated lending outside traditional banking, using an open-source code with algorithms that set rates in real time based on supply and demand. Many DeFi applications are embedded in the ethereum blockchain. Globall...

Huobi Eco Chain, better known as Heco, is about to gain its first dedicated AMM courtesy of MakiSwap. While a handful of existing defi projects hav...

3 Min Read NEW YORK (Reuters) - Losses from cryptocurrency theft, hacks and fraud fell sharply in the first four months of the year, but crime in the booming “decentralized finance” space hit an all-time high, a report from crypto intelligence company CipherTrace showed on Thursday. FILE PHOTO: Customers talk against a backboard with signs of cryptocurrency during 2020 Taipei International Finance Expo in Taipei, Taiwan, November 27, 2020. REUTERS/Ann Wang DeFi applications are platforms that facilitate crypto-denominated lending outside traditional banking, using an open-source code with...

FinanceEXCLUSIVE Crypto crime down in 2021 through April, but 'DeFi' fraud at record -CipherTrace Gertrude Chavez-dreyfuss 1/2 A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken January 8, 2021. REUTERS/Dado Ruvic Read More Losses from cryptocurrency theft, hacks and fraud fell sharply in the first four months of the year, but crime in the booming "decentralized finance" space hit an all-time high, a report from crypto intelligence company CipherTrace showed on Thursday. DeFi applications are platforms that facilitate crypto-denominated l...