NEW YORK–(BUSINESS WIRE)–DeFiYield.app has released their full 2022 Crypto Scam Report. This special yearly report covers the largest cryptocurrency hacks and scams of the year. We keep you safe and informed.
According to DeFiYields REKT database, the worlds largest crypto scam database, $48.9b was lost, over 500% increase from 2021. Here are the 5 biggest crypto losses of 2022:
1. Terra Classic $40b (May 8)
Terra Luna ecosystem one of the largest crypto projects to collabs began in May 2022.
Traders sold off $USTC in a Curve liquidity pool, leading to $USTC depreciating. $LUNC was then minted rapidly as people rushed to redeem their stablecoins. Market cap $LUNC fell below $USTC, preventing redemptions.
2. Genesis $2.8b (November 1…
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