In 2020, about $ 144.3 billion passed through the protocols of decentralized finances. Of these, almost $ 34 million are related to criminal activities.
Decentralization on the hand of criminals
In 2020, over $ 144 billion passed through the DEFI protocols, more often users made transactions on the decentralized Uniswap, SushiSwap and Curve stock exchanges. This is evidenced by the statistics of the BLOCK resource.
Of these, $ 34 million are associated with fraudulent operations. Chainalysis company analysts came to this conclusion.
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At first glance, a figure of $ 34 million may seem not so big - in the end, it is only 0.02% of the total volume of translated funds. However, experts argue that this figure will grow in 2021. In many ways, criminals attracts complete decentralization of sites and the ability to translate funds anonymously without passing the KYC procedure.
Read also: Top 5 decentralized stock exchanges, followed by following 2021
ILLUM analysts call another reason for increasing the activity of DEFI: cybercriminals drew attention to DEFI smart contracts that direct funds in user wallets depending on the conditions specified in the code. There is no human control over transactions, and it is just the perfect option for fraudsters.
The development of resources will be the third essential conditions for the growth of fraud using DEx. For example, the Televend resource uses encrypted automatic chat bots in Telegram to communicate with buyers and suppliers. Buyers place orders in the automatic chat of the seller, and then get the address of the BTC wallet to transfer funds created by the bot.
About the largest hacks of DEFI projects read here.
Fraudsters are improving the technology of theft of funds
The growth of the popularity of decentralized finances was interested in not only investors, but also hackers. Last year, fraudsters hacked several Defi protocols at once and stole a cryptocurrency for millions of dollars.
However, hackers did not stop at remote attacks and developed new schemes for the withdrawal of users from the wallets of the stock exchange. The most popular way among fraudsters became phishing sites, with the help of which criminals crawled money from unsuspecting victims.
Also, hackers used fake mobile applications and platforms, virus QR codes, as well as grown the API keys. More about fraudulent traps we told here.
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