Poor cybersecurity practices within the decentralized finance (DeFi) industry present a threat to crypto, consumers, and national security, according to a new report from the United States Treasury Department. 

Ransomware is another high-profile issue noted by the department, which is recognized as a “national security priority.” Since transactions on crypto networks like Bitcoin are both pseudonymous and irreversible, they make for an ideal payment rail through which criminals can extort payments from victims.