Via Yahoo Finance

Reuters

Crypto crime slows in 2020, but ‘DeFi’ hacks rise: CipherTrace report

Losses from cryptocurrency thefts, hacks, and fraud declined to $1.8 billion for the first 10 months of the year compared with last year, but crime in the hot “decentralized finance” sector rose, according to a report from crypto intelligence company CipherTrace. “What we have seen is that exchanges and other cryptocurrency players have implemented more security procedures,” Dave Jevans, CipherTrace’s chief executive officer, told Reuters. About 20% of those hacks, or roughly $98 million, came from “decentralized finance” or DeFi, which are transactions on platforms that facilitate lending outside of banks.

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