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A comment on Cryptocurrency scams cost owners $7.7B in 2021, driven by DeFi-based “rug pulls”. Parent comment

Re:Cryptocurrency scams cost owners $7.7B in 2021, driven by... by arcticbull on Thursday December 16, 2021 @01:30PM (#29581874)
DeFi Pulse says there's just under $100B in TVL. [1] About $10B was lost and stolen this past year depending on where you look - $7.7B according to this article, but I saw $10B circulating too.

[1] https://defipulse.com/

[ Parent | on HN ]
Re:Cryptocurrency scams cost owners $7.7B in 2021, driven by... by sk55 on Thursday December 16, 2021 @02:29PM (#29582664)
I don't think DefiPulse has everything. Here's a few more off the top of my head, though I'm sure there is more: - $5.5 billion (TVL on Eth L2s via L2Beat) - $4 billion (ETH 2.0 staking contract) - $17 billion (Polkadot staking) - $16.5 billion (Cardano staking) - $36 billion (Solana staking)
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Re:Cryptocurrency scams cost owners $7.7B in 2021, driven by... by pcthrowaway on Thursday December 16, 2021 @02:30PM (#29582678)
The article's figures include the centralized Turkish exchange which made off with ~2.6B , so I don't think it's fair to consider it the same kind of thing.
[ Parent | on HN ]
Re:Cryptocurrency scams cost owners $7.7B in 2021, driven by... by superfad on Thursday December 16, 2021 @04:06PM (#29583919)
Yeah I agree.

> Rug pulls have emerged as the go-to scam of the DeFi ecosystem, accounting for 37% of all cryptocurrency scam revenue in 2021

So 37% of $7.7 billion is $2.849 billion.

> All in all, rug pulls took in more than $2.8 billion worth of cryptocurrency from victims in 2021.

> It’s important to remember that not all rug pulls start as DeFi projects. In fact, the biggest rug pull of the year centered on Thodex... In all, users lost over $2 billion worth of cryptocurrency, which represents nearly 90% of all value stolen in rug pulls. However, all the other rug pulls in 2021 began as DeFi projects.

The graph shows $2.6 billion was lost with Thodex. So that leaves $0.249 billion that was lost in projects that were rug pulls that began as DeFi projects.

[ Parent | on HN ]