Part 11/14:
Sam Bankman-Fried, former FTX head and now under scrutiny, emphasized the importance of oracle security, as flawed oracles pose significant risks for DeFi platforms.
Illicit Transactions Are a Small Fraction
Chainalysis reports that illicit cryptocurrency transactions, while high in total value, constitute only about 0.15% of total activity—indicative of the relatively low percentage of criminal activity compared to overall market volume. Nevertheless, stolen funds are rising sharply; in 2021, total theft surged over 600% year-over-year to approximately $7.8 billion, underscoring the importance of security vigilance for users.