Iggy Azalea’s anti-scam plan and crypto losses from hacks decline by 12%: Finance Redefined
In a bold move to combat crypto scams, Iggy Azalea pledges to burn her own coins.
The past week in decentralized finance (DeFi) land saw another memecoin frenzy, with celebrities launching their own memecoins — quite a trend shift from 2021–2022 when they launched their own nonfungible tokens (NFTs). Among all the meme hysteria, pop star Iggy Azalea devised a “burning” plan to evade frauds and rug pulls.
In other news, a trader who lost 1,807 liquid-staked Ether (ETH) worth $6.91 million appears to have received a large share of the stolen funds back from scammers. A new report from Immunefi revealed that crypto losses linked to hacks and frauds declined by 12% year-over-year in May.
The top 100 DeFi tokens had a mixed week as price momentum remained sideways where most tokens traded in green and the total value locked in DeFi contracts remained above $100 billion.
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Author: Prashant Jha
