Crypto Criminals Have Stolen Over $10 Billion, but Crime is Slowing Down
A new report reveals that despite a slowdown in crypto crime, criminals have managed to steal over $10 billion to date. In 2022 alone, crypto scammers and hackers stole more than $3.5 billion in cryptocurrencies. The number of cryptocurrency heists has been steadily increasing over the years, with 136 reported in 2021 compared to just 15 in 2017. The total value of stolen cryptos has also skyrocketed, increasing eightfold from around $324 million to a staggering $2.7 billion. However, there has been a slight decline in crypto crime in 2023, with criminals stealing approximately $905 million in the first eight months of the year.
Key Points:
- In 2022, crypto scammers and hackers stole more than $3.5 billion of cryptocurrencies.
- The number of cryptocurrency heists has increased from 15 in 2017 to 136 in 2021.
- The total value of stolen cryptos has increased eight times, from $324 million to $2.7 billion.
- Crypto security threats cost nearly $730 million in August 2021 alone.
- In 2023, crypto criminals stole approximately $905 million in the first eight months of the year.
Despite the decrease in the total value of stolen cryptos in 2023, the number of crypto heists remains high. Since 2011, there have been 718 reported cases of crypto heists, with 70% of them occurring in the last three years. The year 2021 saw 136 crypto heists, which was 2.5 times more than the previous year. In 2022, the total number of crypto crimes reached an all-time high of 199. Although the value of stolen cryptos has decreased, it is still a cause for concern in the crypto market.
Hot Take:
The decrease in value of stolen cryptos in 2023 may suggest that security measures in the crypto market are improving. However, the high number of crypto heists indicates that there is still a significant risk for investors. It is crucial for individuals to exercise caution and take necessary steps to protect their crypto assets.
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