With 2020 being the best year for investments in cryptocurrency, cybersecurity experts warned of a rise in crypto frauds. According to blockchain analytics firm CipherTrace, hacks on decentralized finance (DeFi) companies accounted for 21% of the total theft volume in 2020, which is a steep rise from the negligible volumes seen in 2019.
Coincidentally, India has also seen a boom in crypto investments in 2020, fuelling global growth and interest in digital currencies. Cryptocurrency exchanges such as WazirX have seen as much as 400% growth in user base during the year.
https://www.livemint.com/news/world/experts-see-crypto-frauds-rising-in-2021-11607363540522.html
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
