A new type of scam has emerged in the hype-filled world of cryptocurrency: the “rug pull.” The scam, which gets its name from the expression “pulling the rug out,” involves a developer attracting investors to a new cryptocurrency project, then pulling out before the project is built, leaving investors with a worthless currency. It’s part…
How to Avoid ‘Rug Pulls,’ the Latest Cryptocurrency Scam
May 13, 2022
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Alternative InvestmentsBrightcryptoCrypto Scamscryptocurrenciesdefiinvestingpersonal financeRug Pulls
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Decentralized Finance 101—What It Is and Why It Matters
Blockchain is still a nascent technology, but it is perhaps the biggest disruption mechanism that the world of finance has had to deal with. Decentralized finance has gained popularity over the previous year, and not many people fully understand its promise and its pitfalls. Currently, traditional big banks and FinTech startups divide the world of…
DeFi, Yield Farming, and Ponzi Scheme?
In today’s local interest rate environment, many investors have come across DeFi staking or cryptocurrency yield farming promising interest rates earned in the high single digits, double-digits, and even triple-digits. Compared to the paltry interest rate earned in most mainstream asset classes, conventional wisdom would suggest those rates are too good to be true. What…
What’s Defi and Is It Worth It? Decentralized Finance Explained
April 28, 2022
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Alternative InvestmentsblockchainBrightDecentralized exchangesDecentralized financedefifintechinvestingpersonal finance
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In a world where centralized finance is struggling, decentralized economics is taking the reins. Also known as DeFi, this exciting new development is made up of a variety of applications that run on top of blockchain technology. These applications aim to take control away from third-party intermediaries and put it back into the hands of…
DeFi Theft and Fraud Losses Reach $10.5 Billion in 2021, Mostly on Ethereum
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,…
Investors Have Lost $12 Billion This Year in DeFi Products and Services: Report
Investors have lost billions of dollars this year due to theft and fraud among criminals targeting decentralized finance (DeFi) products and services, according to new research by Elliptic. The London-based firm, a leader in crypto-asset risk management, released the report titled, “DeFi: Risk, Regulation, and the Rise of DeCrime,” on Thursday. Elliptic found that more than $10…
NTD Business Full Broadcast (June 18)
Smart phones, smart watches, now smart tires! What if you knew about all your tire problems before they happen? What industry would especially benefit? Billionaire investor Mark Cuban says he lost money on a crypto project this week. The coin he backed dropped 100% in one day. NTD takes a look at why. Astronauts board…
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