Announcement: DeFi scams and theft will hit $ 10.8 billion by 2021

Golden Financial reports that DeFi users and retailers lost more than $ 12 billion last year, according to an Elliptic report. Mailing design and manufacturing errors are the most common cause, leading to malfunctions that can be exploited by hackers, costing $ 10.8 billion in losses. The remaining $ 1 billion in losses are the result of scams (authors of fraudulent apps willfully "take back" their rights to steal users' money) and steal "executive keys." The occurrence of DeFi theft and crime has been reported mainly due to lack of experimentation and ignorance of the technology available. (finextra)