According to a report from London-based firm Elliptic, about $10.5 billion worth of user funds has been stolen in cases of fraud and theft on DeFi products.
DeFi platforms have become increasingly popular in recent years, but the platforms are not regulated. The “total value locked” (TVL), a measure of the liquidity of DeFi services, increased by a factor of nearly 500, from $500 million in November 2019 to just over $247 billion today.
