Is defi100 a scam?

The cryptocurrency’s Twitter page is still active, however, the DeFi100 website is currently down. The DeFi100 scam rumours may be false, the website could have been hacked, however, the value of the coin has now dropped considerably. With recently emerging cryptocurrencies, investors should be warier.

How much money has been stolen from Defi?

According to a report from London-based firm Elliptic, more than $10 billion worth of user funds has been stolen in cases of fraud and theft on DeFi products, which aim to replicate traditional financial services using blockchain technology. DeFi has often been referred to as the “Wild West” of cryptocurrencies.

Are there any Defi scams floating around the market?

Unfortunately, in addition to these new projects, there are a lot of DeFi scams floating around the market, as well. Naturally, the more popular the sector, the more foul players are going to be attracted to it. As sad as that may be, this is usually the case with most areas, especially those related to all-things finance.

How much have cryptocurrencies lost from Defi hacks and scams?

It’s something regulators have tried to come to grips with recently amid a spate of major hacks and scams. Overall losses caused by DeFi exploits has totaled $12 billion so far in 2021, according to Elliptic, a firm which tracks movements of funds on the digital ledgers that underpin cryptocurrencies.