Unconfirmed: $12 Billion Has Been Lost in DeFi Value to Crime. Here’s How - Ep.299

Jess Symington, research lead at Elliptic, a blockchain forensics company, discusses the massive upswing in DeFi hacks during 2021, resulting in over $10 billion of DeFi value lost. Show topics:
the state of crime in DeFi
how much value has been lost to exploits
whether the majority of hacks are the result of user or developer error
the various types of exploits
how to confirm when a project did, in fact, rug pull
which blockchains are most susceptible to having exploits
what has been happening recently in ransomware
how DeFi hackers cash out
why ransomware attackers, who usually request payment in Bitcoin, have a tougher time cashing out than DeFi hackers 
whether hackers trend towards a specific profile/demographics 
how easy it is for law enforcement to find hackers 
whether blockchain’s transparency is proving to be a helpful tool for regulators
Jess’s advice on how to prevent hacks for both protocols and users
 
Thank you to our sponsors!
Avado: ava.do
Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021   
Nodle: https://bit.ly/3AXGydJ   
 
Episode Links
 
Elliptic
Website: https://www.elliptic.co/ 
Blog: https://www.elliptic.co/blog 
 
Hack Coverage
Elliptic Research
DeFi: Risk, Regulation and the Rise of DeCrime: https://www.elliptic.co/resources/defi-risk-regulation-and-the-rise-of-decrime

https://www.cnbc.com/2021/12/14/common-defi-crypto-related-scams-and-how-to-protect-your-wallet.html 

https://cryptobriefing.com/elliptic-estimates-12b-lost-to-defi-exploits/ 

Rekt Leaderboard (giving a dollar figure for recent hacks along with a summary of what happened)

https://rekt.news/leaderboard/ 

 
Unchained Podcast on Ransomware

https://unchainedpodcast.com/how-ransomware-evolved-into-a-big-business/ 
 
Learn more about your ad choices. Visit megaphone.fm/adchoices

Jess Symington, research lead at Elliptic, a blockchain forensics company, discusses the massive upswing in DeFi hacks during 2021, resulting in over $10 billion of DeFi value lost. Show topics:

the state of crime in DeFi how much value has been lost to exploits whether the majority of hacks are the result of user or developer error the various types of exploits how to confirm when a project did, in fact, rug pull which blockchains are most susceptible to having exploits what has been happening recently in ransomware how DeFi hackers cash out why ransomware attackers, who usually request payment in Bitcoin, have a tougher time cashing out than DeFi hackers  whether hackers trend towards a specific profile/demographics  how easy it is for law enforcement to find hackers  whether blockchain’s transparency is proving to be a helpful tool for regulators Jess’s advice on how to prevent hacks for both protocols and users

 

Thank you to our sponsors!

Avado: ava.do

Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021   

Nodle: https://bit.ly/3AXGydJ   

 

Episode Links

 

Elliptic

Website: https://www.elliptic.co/  Blog: https://www.elliptic.co/blog 

 

Hack Coverage

Elliptic Research DeFi: Risk, Regulation and the Rise of DeCrime: https://www.elliptic.co/resources/defi-risk-regulation-and-the-rise-of-decrime

https://www.cnbc.com/2021/12/14/common-defi-crypto-related-scams-and-how-to-protect-your-wallet.html 
https://cryptobriefing.com/elliptic-estimates-12b-lost-to-defi-exploits/  Rekt Leaderboard (giving a dollar figure for recent hacks along with a summary of what happened)
https://rekt.news/leaderboard/ 

 

Unchained Podcast on Ransomware

https://unchainedpodcast.com/how-ransomware-evolved-into-a-big-business/ 

 

Learn more about your ad choices. Visit megaphone.fm/adchoices