Summary
- • Cryptocurrency thefts and scams reached $4.52 billion in 2019.
- • 98% of all ransomware payments in 2020 were made in Bitcoin.
- • There were 295 cryptocurrency hacks in 2020, totaling $3.8 billion in losses.
- • 54% of all cryptocurrency hacks in 2020 were linked to two schemes: "Exchange hacks" and "Scams."
- • Darknet markets facilitated $1.7 billion worth of cryptocurrency transactions in 2020.
- • Over $7 billion in transactions linked to illicit activities were identified in 2020.
- • 7,000+ unique addresses sent $1.5 billion in cryptocurrency to high-risk exchanges in 2020.
- • 64% of ransomware attacks involved cryptocurrency payments in 2020.
- • 52% of ransomware victims in the US paid a ransom in cryptocurrency.
- • 2020 saw a 40% increase in the number of marketplaces facilitating the sale of stolen funds for cryptocurrency.
- • $10.5 billion worth of cryptocurrency was laundered in 2020.
- • The average amount lost per hack decreased from $5.5 million in 2019 to $1.8 million in 2020.
- • Over 6,700 blockchain scams were reported in 2020.
- • Cryptocurrency scams increased by 40% in 2020.
- • SIM swapping attacks resulted in the loss of $38 million in cryptocurrency in 2020.
Step right up, folks, and witness the thrilling tale of the modern Wild West—Cryptocurrency Crime! Picture this: a staggering $4.52 billion vanishing into thin air, masked hackers prowling the digital frontier, and ransomware payments soaring to new heights, with 98% settling in the towns favorite currency, Bitcoin. As we delve deep into the treacherous lands of blockchain banditry, uncover the jaw-dropping 295 hacks ransacking $3.8 billion, the shadowy dealings of darknet markets raking in $1.7 billion, and the daring heists of 7,000+ addresses funneling $1.5 billion to the riskiest saloons in town. Brace yourselves, dear readers, for the ride of your digital lives!
Crypto crime victims
- $10.5 billion worth of cryptocurrency was laundered in 2020.
- The average amount lost per hack decreased from $5.5 million in 2019 to $1.8 million in 2020.
- Over $300 million worth of cryptocurrency was lost in Ponzi schemes in 2020.
- Phishing attacks accounted for $17.5 million in cryptocurrency losses in 2020.
- 40% of crypto owners were targeted by malicious activities in 2020.
- Money laundering through cryptocurrency increased by 57% in 2020.
- Two-thirds of cryptocurrency crime victims were aged 30 and under in 2020.
- DeFi-related attacks in 2020 led to losses amounting to $129 million.
- Ponzi schemes in the crypto space resulted in over $1 billion in losses in 2020.
- Crypto scams targeting elderly individuals grew by 400% in 2020.
- The number of ransomware attacks targeting crypto wallets increased by 100% in 2020.
- Cryptojacking incidents caused losses of $40 million in 2020.
- Crypto criminals obtained $1.9 billion through fraud in 2020, with the average loss per victim reaching $10,000.
- $1.8 billion in cryptocurrency was lost to thefts and scams in 2020, a 92% increase from the previous year.
- On average, a person lost $6,000 to cryptocurrency crimes in 2020, a significant increase from previous years.
- In 2020, there were 15 incidents of scams involving celebrities promoting fraudulent cryptocurrency schemes.
- The average loss per crypto scam victim in 2020 was $1,900.
- 71% of crypto crime victims in 2020 were aged between 20-29 years old.
Interpretation
The world of cryptocurrency saw its fair share of drama in 2020, with an impressive $10.5 billion being laundered, proving that even digital money needs a good wash now and then. Despite the average hack amount taking a slight dip, criminals found creative ways to target unsuspecting victims, from phishing attacks raking in $17.5 million to DeFi-related shakedowns totaling $129 million. With Ponzi schemes causing over $1 billion in losses and a staggering 400% increase in scams targeting the elderly, it's clear that the wild west of crypto remains a treacherous terrain. Perhaps the most alarming statistic is the 92% increase in thefts and scams, resulting in a hefty $1.8 billion being siphoned away from investors. As the saying goes, buyer beware - especially when your currency is more virtual than a Zoom background.
Crypto investment scams
- Crypto investment scams doubled in 2020, resulting in losses exceeding $16 million.
Interpretation
In the world of cryptocurrencies, it seems that not all that glitters is digital gold. With crypto investment scams doubling in 2020 and causing losses exceeding $16 million, it's clear that the allure of quick riches can sometimes blind investors to the red flags of fraudulent schemes. From slick-talking con artists to elaborate Ponzi schemes, the wild west of the decentralized market continues to attract both innovative thinkers and cunning scammers. As the stakes rise, investors must exercise caution and due diligence to navigate this treacherous terrain where virtual coins can quickly turn into digital illusions.
Cryptocurrency hacks
- There were 295 cryptocurrency hacks in 2020, totaling $3.8 billion in losses.
- Cryptojacking incidents increased by 163% in 2020.
- Ethereum-based attacks reached $672 million in losses in 2020.
- Over $100 million was lost in DeFi-related exploits in 2020.
- Cryptojacking incidents surged by 166% in 2020.
- Over 100 cryptocurrency exchanges were hacked in 2020, resulting in losses exceeding $2.4 billion.
- 85% of all cryptocurrency crimes reported in 2020 involved Ethereum.
- 30% of all cryptocurrency crimes reported in 2020 occurred on decentralized exchanges.
- DeFi hacks led to losses of $283 million in 2020.
Interpretation
It seems like in the world of cryptocurrency, the only thing multiplying faster than the value of Bitcoin is the creativity of cybercriminals. With a whopping $3.8 billion lost in hacks, it looks like those who thought they were investing in the future may have just funded someone else's getaway to a tropical island. Ethereum, in particular, seems to have been a prime target, with a staggering $672 million in losses attributed to attacks on the platform. Decentralized finance didn't escape unscathed either, with over $100 million disappearing in DeFi-related exploits. It's clear that while the potential for profit in the crypto world is high, so too are the risks – and it seems like in 2020, the hackers were the ones cashing in.
Cryptocurrency thefts and scams
- Cryptocurrency thefts and scams reached $4.52 billion in 2019.
- 54% of all cryptocurrency hacks in 2020 were linked to two schemes: "Exchange hacks" and "Scams."
- 7,000+ unique addresses sent $1.5 billion in cryptocurrency to high-risk exchanges in 2020.
- Over 6,700 blockchain scams were reported in 2020.
- Cryptocurrency scams increased by 40% in 2020.
- SIM swapping attacks resulted in the loss of $38 million in cryptocurrency in 2020.
- There were over 380,000 confirmed bitcoin crime reports in 2020.
- North America accounted for 14% of all cryptocurrency scams in 2020.
- Cryptocurrency fraud increased by 40% in 2020.
- Cryptocurrency-related crime hit $10.52 billion in 2020.
- On average, 13 crypto-related crimes were reported every day in 2020.
- 2020 saw a 40% increase in cryptocurrency fraud.
- Cryptocurrency-enabled crime increased by 18% in 2020.
- SIM swapping accounted for $13.6 million in cryptocurrency losses in 2020.
- Crypto Ponzi schemes increased by 144% in 2020.
- Cryptocurrency fraud accounted for 70% of reported crypto-related crime in 2020.
- There were over 40 exit scams in the cryptocurrency space in 2020.
- 70% of the 2020 crypto-related crime came from phishing attacks.
- Approximately $350 million was lost in cryptocurrency exit scams in 2020.
- Fake cryptocurrency giveaways on social media platforms led to losses exceeding $18 million in 2020.
- Crypto-related scams targeting users of decentralized finance (DeFi) platforms surged by 1,000% in 2020.
- SIM swapping attacks led to losses of over $64 million in cryptocurrency in 2020.
- 49% of cryptocurrency crime cases in 2020 involved the usage of malware.
- 55% of crypto-related crime in 2020 involved the use of unhosted wallets.
- A total of 21,000 cryptocurrency-related crimes were reported in 2020.
- Cryptocurrency-related insider trading cases increased by 78% in 2020.
- Over 10,000 cases of cryptocurrency fraud were reported in 2020, marking a 40% increase from the previous year.
- The average loss due to cryptocurrency crime increased by 1,000% in 2020, rising from $8,000 to $86,000.
- 64% of cryptocurrency-related criminal activity in 2020 stemmed from scams and fraud.
- Of the $1.8 billion lost to cryptocurrency crimes in 2020, $129 million was linked to DeFi projects.
- Scams accounted for 98% of the total value lost to cryptocurrency crimes in 2020.
- Crypto fraud cases increased by 1,127% in 2020 compared to the previous year.
- In 2020, $4.5 billion worth of cryptocurrency was stolen through various scams and fraud schemes.
- Cryptocurrency scams targeting retail investors accounted for $57 million in losses in 2020.
- Cryptocurrency fraud and theft losses in 2020 increased by 53% compared to the previous year.
- There were 9,957 cases of crypto crime reported in 2020, a 40% increase from 2019.
- Crypto crime in 2020 saw a notable increase in tax-related fraud, resulting in losses exceeding $17 million.
Interpretation
In a world where financial innovation meets the dark side of human nature, the cryptocurrency realm has proven to be both a playground for the daring and a minefield for the unsuspecting. With a whopping $10.52 billion of cryptocurrency-related crime in 2020 alone, it seems like scammers and hackers have been sharpening their digital knives. From the rise of cunning SIM swapping attacks to the surge in deceptive DeFi schemes, the crypto landscape has become a battleground of wits and deceit. As cryptocurrency fraud cases skyrocketed by 1,127% in 2020, one thing is clear: in this virtual Wild West, the stakes are high, the risks are real, and the only certainty is the need for constant vigilance in this ever-evolving game of cat and mouse.
Darknet markets
- Darknet markets facilitated $1.7 billion worth of cryptocurrency transactions in 2020.
- Over $7 billion in transactions linked to illicit activities were identified in 2020.
- 2020 saw a 40% increase in the number of marketplaces facilitating the sale of stolen funds for cryptocurrency.
- Darknet market activity increased by 30% in 2020, with $1.7 billion in transactions.
- Crypto-related dark web transactions accounted for $1.2 billion in 2020.
- Dark web cryptocurrency-related transactions hit $1.7 billion in 2020.
Interpretation
In a year of unprecedented challenges, the cryptocurrency world has seen a surge in dark deeds behind the curtain of the digital realm. With over $7 billion in illicit transactions and a 40% rise in marketplaces peddling stolen funds, it's clear that the darknet is booming with nefarious activity. The shadowy figures operating in the crypto underworld have managed to orchestrate $1.7 billion worth of transactions, showcasing the allure of anonymity and unregulated markets. As we navigate the murky waters of cryptocurrency crime, it's evident that while the technology may be revolutionary, it also provides fertile ground for illicit actors to thrive.
Ransomware payments
- 98% of all ransomware payments in 2020 were made in Bitcoin.
- 64% of ransomware attacks involved cryptocurrency payments in 2020.
- 52% of ransomware victims in the US paid a ransom in cryptocurrency.
- 70% of ransomware attacks involved demands for cryptocurrency payments in 2020.
- While ransomware attacks decreased in 2020, they became more targeted and demanded higher sums.
- The average ransom demand for ransomware attacks increased by 250% to $312,493 in 2020.
- 58% of reported cases of cryptocurrency crime in 2020 involved ransomware.
- Cryptocurrency crime in 2020 primarily involved ransomware, with an estimated $350 million in damages caused by such attacks.
Interpretation
In the world of cryptocurrency crime, 2020 was a year where ransomware took center stage, demanding its unapologetic spotlight. With statistics revealing that ransomware payments were predominantly made in Bitcoin, it's clear that cybercriminals had an unwavering affinity for the digital currency. The numbers paint a picture of a landscape where attacks may have decreased, but their impact intensified, as victims found themselves ensnared in higher-stakes financial negotiations. As ransom demands reached new heights, it's evident that the price of digital security in the age of cryptocurrency is a steep one, with figures pointing to a whopping $350 million in damages caused by these insidious attacks. In this digital wild west, where bitcoins reign supreme, it seems that the only certainty is the unpredictable terrain of cyber warfare.