Taiwan's Absolute Energy company allegedly used a DeFi lending platform to perpetrate a cryptocurrency fraud, defrauding over NT$5 billion. Nearly 1,000 victims were impacted. Prosecutors have moved to detain nine core members, with the mastermind facing interrogation.

CipherTrace says crypto crime is increasingly moving from centralized platforms to DeFi, where smart contract exploits and rug pulls are driving a growing share of losses despite a broader decline in total stolen funds.

Ciphertrace's new report reveals that while overall crypto crime losses dropped to $432 million in the first four months of 2021, DeFi-related losses hit $156 million, exceeding 2020 totals. Major hacks include PAID Network, Easyfi, and Meerkat Finance.