FBI Warns of Increased Cybercriminal Activity Surrounding Crypto - Don't Be the Next Victim! | Crypto

FBI Warns of Increased Cybercriminal Activity Surrounding Crypto – Don’t Be the Next Victim!

– The FBI has released a PSA warning of the increased cybercriminal activity targeting the DeFi sector.

– The FBI estimates that over $1 billion has been stolen from the cryptocurrency market, with 97% of that coming from DeFi between January and March this year.

– The FBI attributes the increase in attacks to the growing popularity of DeFi and the amount of money being moved through Decentralized Exchanges (DEX).

– The FBI recommends that investors do their due diligence in choosing which DeFi protocols to engage with, as many of them are open-source and vulnerable to exploits.

– The FBI also urges exchanges to perform independent code audits and manage real-time on-chain analytics to help mitigate the risk of attacks.

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