Cryptocurrency scams have seen exponential growth in recent years – a by-product of the boom in the cryptocurrency space. Reports suggest that decentralized finance (DeFi) users and investors have suffered losses of $10.5 billion as of November 2021 due to theft and fraud. This meant that losses due to security breaches went up sevenfold from $1.5 billion in 2020 to $10.5 billion at the end of 2021. In this episode, we will look at the security issues surrounding cryptocurrencies.