This article has been previously published in this website.
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. Globally, crypto criminals ran away with $432 million as of end-April, according to the CipherTrace report. About 56% of that, or $240 million were DeFi-related, a record peak.
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 $4.5 billion. Cryptocurrencies are once again in the spotlight with the surge in prices for the second-largest token, ethereum, and social media darling, dogecoin. The drop in crypto crime reflects some maturation in the industry, as infrastructure improved and companies and exchanges boosted security systems.
Access to the original publication if you want to gather more information.
- Sentencia SJSO 2400/2025 avala fichaje biométrico en hospitales
- Alemania aprueba la ley de aplicación del Data Act para regular el uso de datos industriales
- El proyecto CRAB publica buenas prácticas para la lucha contra el blanqueo de capitales en la contratación pública
- BDO corta lazos con oficina familiar sancionada por su presunto vínculo con red internacional de estafas
- La AEPD multa a Bizum por no garantizar la confidencialidad en el envío de dinero
- La ANPD de Perú publica guía para anonimizar y seudonimizar datos personales en el sector público