With cybercrime increasingly hurting the DeFi sector, the US Federal Bureau of Investigation (FBI) is taking steps to warn investors and platforms about these risks, and is also recommending a set of precautions that could prevent them from losing their assets to criminals.
“Cyber criminals are increasingly exploiting vulnerabilities in the smart contracts governing DeFi platforms to steal cryptocurrency, causing investors to lose money,” the bureau said. “Cyber criminals seek to take advantage of investors’ increased interest in cryptocurrencies, as well as the complexity of cross-chain functionality and open source nature of DeFi platforms.”
With this in mind, the FBI recommends investors implement the following measures to protect their assets:
perform thorough research of DeFi platforms, protocols, and smart contracts before deciding on their investments, and remain aware of the specific risks involved in such investments;
ensure the selected DeFi investment platform has carried...
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