With 2020 being the best year for investments inΒ 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.


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