DeFi Is Getting Pummeled by Cybercriminals

Decentralized finance (DeFi) platforms — which connect various cryptocurrency blockchains to create a decentralized infrastructure for borrowing, trading, and other transactions — promise to replace banks as a secure and convenient way to invest in and spend cryptocurrency. But in addition to attracting hordes of new users with dreams of digital fortune, cybercriminals have discovered them to be an easy target, wiping out wallets to zero balances in a moment, tanking whole markets while profiting, and more, according to a new report.

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