6 replies to this topic

[pdx5]

• Scammers around the world took home a record $14 billion in cryptocurrency in 2021, thanks in large part to the rise of DeFi.
• Losses from crypto-related crime rose 79% from 2020.
• Cryptocurrency theft increased 516% from 2020, to $3.2 billion worth of cryptocurrency. Of this total, 72% of stolen funds were taken from DeFi protocols.

Scammers took home a record $14 billion in cryptocurrency in 2021, thanks in large part to the rise of decentralized finance (DeFi) platforms, according to new data from blockchain analytics firm Chainalysis.

Losses from crypto-related crime rose 79% from a year earlier, driven by a spike in theft and scams.

 

Scamming was the greatest form of cryptocurrency-based crime in 2021, followed by theft — most of which occurred through hacking of cryptocurrency businesses. The firm says that DeFi is a big part of the story for both, in yet another warning for those dabbling in this emerging segment of the crypto industry.

“DeFi is one of the most exciting areas of the wider cryptocurrency ecosystem, presenting huge opportunities to entrepreneurs and cryptocurrency users alike,” Chainalysis wrote in its annual Crypto Crime report.

“But DeFi is unlikely to realize its full potential if the same decentralization that makes it so dynamic also allows for widespread scamming and theft.”

 

https://www.cnbc.com...hainalysis.html

[Rogerdodger]

No way!

I am just speechless.

Dogecoin scam left this woman without her home deposit

A woman lost $12,000 because of the Dogecoin,  scam.

Scammers hosted YouTube livestreams of Musk’s appearance on “SNL.” The scammers then included links to websites with advertisements that said people could double their investment of cryptocurrency.

 

She said she spotted a note on a website that said Musk would double her investment into Bitcoin. So she dropped £9,000 (or about $12,000) into the website because she thought it would happen.

 

She was unavailable for further comment as she was expecting Ed McMahon, Dick Clark and Terry Bradshaw to bring her the Publisher House Sweepstakes check at any moment.

Edited by Rogerdodger, 17 January 2022 - 07:49 PM.

[fib_1618]

Noteworthy...and the wall of worry continues.

 

All manner of investments have their risks...both implied and actual...where only personal due diligence of the product or service defines between the two.

 

After all, isn't this why the broader umbrella of risk is defined as a "gamble" however the odds of potential success?

 

Fib

 

 

 

 

[Rogerdodger]

Conflation is the merging of two or more sets of information, texts, ideas, opinions, etc., into one, often in error.

 

Who is regulating Crypto in the same way that banks, credit cards, stocks, etc. are regulated?

Edited by Rogerdodger, 17 January 2022 - 10:20 PM.

[brucekeller]

So far, DeFi seems like BS.  I had a crypto zealot point to all the 'DeFi' revenue on Eth.  It was 99% people trying to swap coins to get the next Bitcoin and people putting NFTs up.  So all their revenue was generated from people trying to get rich quick. 

 

Stuff like smart contracts ARE being adopted, but in-house and outside of public crypto.  Same with NFTs. Any of the exciting DeFi stuff can just be done in-house without having to pay stupid gas fees. 

[Rogerdodger]

Elon's latest retweet:

 

Is that a crypto  heartbeat today or just a final breath?

https://schrts.co/butQgTzN

[Rogerdodger]

$2.5B in stolen BTC from Bitfinex hack awakens

A chunk of the inactive Bitcoins (BTC) stolen in the 2016 Bitfinex exchange hack has moved from the hacker’s wallets to an unknown wallet on Tuesday, as detected by blockchain analytics bot Whale Alerts.

20 transactions involving the stolen Bitcoins were flagged. A sum of 64,641.29 BTC, worth almost $2.5 billion at the time of writing, was moved. This is more than half of the total amount seized by the hackers which are estimated to be around 120,000 BTC.

While it’s impossible to determine the exact purpose of why the hackers are moving the Bitcoin, speculators think it’s to scare investors into selling their BTC.

Back in 2021, as hackers moved 10,000 of their stolen BTC, Twitter user Alistair Milne hypothesized that since the hackers are unable to cash out,

they may be moving the Bitcoins to induce market panic while having short positions. According to the user, the hackers can’t sell, but they can move the coins to “manipulate the market.”

Edited by Rogerdodger, 02 February 2022 - 11:41 AM.