Crypto crime hit record $14 billion in 2021, research shows
2 years, 11 months ago

Crypto crime hit record $14 billion in 2021, research shows

The Hindu  

Crime involving cryptocurrencies hit an all-time high of $14 billion last year, blockchain researcher Chainalysis said on Thursday, a record that comes as regulators call for more powers over the fast-growing sector. Crypto received by digital wallet addresses linked to illicit activity including scams, darknet markets and ransomware jumped 80% from a year earlier, Chainalysis said in a report. "Criminal abuse of cryptocurrency creates huge impediments for continued adoption, heightens the likelihood of restrictions being imposed by governments, and worst of all victimizes innocent people around the world," Chainalysis said. Scams at DeFi platforms - such as "rug pulls," where developers set up phoney investment opportunities before disappearing with investors' cash - hit $7.8 billion, an 82% jump from 2021, Chainalysis said.

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History of this topic

Bitcoin crosses all-time high of $107,000 — what do experts say are the reasons?
Trending News
1 week, 1 day ago

Bitcoin crosses all-time high of $107,000 — what do experts say are the reasons?

Live Mint  

The Donald Trump wave has kept Bitcoin soaring for another week after it notched a seven-week winning streak on December 15 — its longest such run since 2021, according to a Bloomberg report. The world's biggest cryptocurrency lifted by over 4.8 per cent late on December 16 to reach an impressive new all-time record high of $107,791, the report said. …

Bitcoin tops $100,000 as big rally sparked by Trump election win rolls on
3 weeks ago

Bitcoin tops $100,000 as big rally sparked by Trump election win rolls on

LA Times  

Bitcoin has topped the $100,000 mark as a massive rally in the world’s most popular cryptocurrency sparked by the election of Donald Trump rolls on. He’s faced criticism from industry players in the process, including the chief legal officer of Robinhood, who described Gensler’s approach toward crypto as “rigid” and “hostile.” Gensler will step down when Trump takes office. The …

Bitcoin shy of $100,000: Why world's largest cryptocurrency is breaking records daily after Trump's win
1 month ago

Bitcoin shy of $100,000: Why world's largest cryptocurrency is breaking records daily after Trump's win

Firstpost  

Bitcoin, for the first time on Thursday, topped $98,000, extending a record of almost daily all-time highs since Donald Trump’s win in the US Presidential election. Here’s why investors are betting big on the world’s largest cryptocurrency Bitcoin, on November 21, 2024, topped $98,000 for the first time in European trading. Another spike for bitcoin, as the world’s largest and …

Bitcoin breaches $94,000 for first time
Trending News
1 month ago

Bitcoin breaches $94,000 for first time

Deccan Chronicle  

Singapore: Bitcoin rose to a record high above $94,000 as a report that Donald Trump's social media company was in talks to buy crypto trading firm Bakkt added to hopes of a cryptocurrency-friendly regime under the incoming Trump administration. The Financial Times, citing two people with knowledge, said Trump Media and Technology Group, which operates Truth Social, is close to …

Bitcoin vaults to all-time peak as Trump election raises crypto excitement
1 month, 1 week ago

Bitcoin vaults to all-time peak as Trump election raises crypto excitement

Live Mint  

By Samuel Indyk and Gertrude Chavez-Dreyfuss LONDON/NEW YORK -Bitcoin surged to a record above $87,000 on Monday in a blistering rally amid expectations cryptocurrencies will thrive in a light-touch regulatory environment following the election of Donald Trump as U.S. president and pro-crypto candidates to Congress. Trump embraced digital assets during his campaign, promising to make the United States the "crypto …

Cryptocurrency explodes with Trump's triumph, Bitcoin surges past $81,000 for first time
Top News
1 month, 2 weeks ago

Cryptocurrency explodes with Trump's triumph, Bitcoin surges past $81,000 for first time

Firstpost  

Bitcoin on Monday soared to record high of over $81,000 as Donald Trump’s victory in the 2024 US Presidential election and pro-crypto candidates being voted to the Congress pushed expectations high of a light-handed regulatory environment Bitcoin, the world’s biggest and best-known cryptocurrency, surged to a record high of over $81,000 on Monday, getting a boost from Donald Trump’s win …

Americans lost $5.6 billion last year in cryptocurrency fraud scams, the FBI says
3 months, 2 weeks ago

Americans lost $5.6 billion last year in cryptocurrency fraud scams, the FBI says

Associated Press  

WASHINGTON — Americans were duped out of more than $5.6 billion last year through fraud schemes involving cryptocurrency, the FBI said in a report released Monday that shows a 45% jump in losses from 2022. The FBI received nearly 70,000 complaints in 2023 by victims of financial fraud involving bitcoin, ether and other cryptocurrencies, according to the FBI. “The decentralized …

Bitcoin breaches $68,000, nears its all-time high
9 months, 2 weeks ago

Bitcoin breaches $68,000, nears its all-time high

Live Mint  

Bitcoin soared on March 5, reaching close to a two-year high of $68,300 early mark. This recent rally followed a 50 per cent increase in Bitcoin’s value so far in 2024, with most of the gains concentrated in the past few weeks. The rally in Bitcoin prices comes after the recent approval and the launch of spot Bitcoin exchange-traded funds …

Bitcoin Bounces Beyond $64,000 As Records Beckon
9 months, 3 weeks ago

Bitcoin Bounces Beyond $64,000 As Records Beckon

News 18  

Bitcoin scaled a two-year high on Monday, breaking $64,000 as a wave of money carried it within striking distance of record levels. The largest cryptocurrency by market value has gained 50% this year and most of the rise come in the last few weeks where trading volume has surged for U.S.-listed bitcoin funds. “The flows are not drying up as …

Crypto phishing scams deplete approximately USD 300 million from 320,000 users in 2023
11 months, 3 weeks ago

Crypto phishing scams deplete approximately USD 300 million from 320,000 users in 2023

India TV News  

Wallet drainers are one of the known malware which is related to cryptocurrency. A new report has recently revealed that the malware has stolen USD 295 million in cryptocurrencies from about 324,000 victims in 2023. The researchers said, "Over the past year, phishing activities have steadily increased each month with phishing scammers employing more sophisticated tactics to evade security measures.” …

$7 billion in illicit funds laundered across multiple blockchains in 2023: Report
1 year, 2 months ago

$7 billion in illicit funds laundered across multiple blockchains in 2023: Report

The Hindu  

Illicit or high-risk crypto-asset funds worth around $7 billion have been laundered via conversions across multiple blockchains, said the cryptocurrency analytics platform Elliptic in its October report. Elliptic had predicted that only $6.5 billion in illicit or high-risk funds would be laundered across blockchains by the end of the year. The company also pointed out that many decentralised finance services …

Crypto Is For Criminals? No Real-World Use? 5 Myths About Cryptocurrencies Busted
1 year, 2 months ago

Crypto Is For Criminals? No Real-World Use? 5 Myths About Cryptocurrencies Busted

ABP News  

Cryptocurrencies have been experiencing remarkable growth over the past decade. Myth 1: Cryptocurrency Is For Criminals The perception that cryptocurrencies are primarily used by criminals often arises due to the anonymity they offer. While short-term price swings may be unpredictable, many long-term investors see the potential for substantial returns in the future as cryptocurrencies gain wider acceptance and adoption. Myth …

End Of Crypto-Winter? Bitcoin to rally up, touch $100,000 by 2024, says Standard Chartered
1 year, 7 months ago

End Of Crypto-Winter? Bitcoin to rally up, touch $100,000 by 2024, says Standard Chartered

Firstpost  

With the crypto winter coming to an end, Standard Chartered seems to have taken a bullish position on Bitcoin, the oldest and the largest cryptocurrency there is. Bitcoin, the world’s most valuable cryptocurrency, has the potential to reach a record high of $100,000 next year, according to Standard Chartered, which claims the so-called ‘crypto winter’ is ended. Also read: European …

Sanctions drive crypto transfers to illegal addresses to an all-time high: Chainalysis report says
1 year, 10 months ago

Sanctions drive crypto transfers to illegal addresses to an all-time high: Chainalysis report says

The Hindu  

The crypto received by addresses linked to illegal activities hit a new all-time high in 2022, for the second year in a row, to reach a volume of $20.6 billion in what could still be a “lower bound” estimate, said blockchain and crypto analytics firm Chainalysis in its 2023 Crypto Crime Report released this month. Chainalysis looked at illicit addresses …

Crypto scam revenue dropped in 2022, fell by $5 billion: Report
1 year, 10 months ago

Crypto scam revenue dropped in 2022, fell by $5 billion: Report

India Today  

The year 2022 saw a decline of 46 percent in revenue from cryptocurrency scams, reports Chainalysis, i.e., the total revenue fell to $5.9 billion in 2022 from that of 2021’s $10.9 billion. And, since most of the crypto scam types are correlated with bitcoin prices, hence, the said decline in crypto scam revenue. It is pointed out that though the …

Maharashtra: Man loses ₹12 lakh as cryptocurrency account hacked
1 year, 11 months ago

Maharashtra: Man loses ₹12 lakh as cryptocurrency account hacked

Live Mint  

A man lost ₹12 lakh in Maharashtra after an unidentified man hacked a cryptocurrency account. As per the PTI news agency reported an unidentified person allegedly hacked the cryptocurrency account of a 37-year-old man and siphoned off $15,097, worth about ₹12 lakh. Meanwhile, data from blockchain analytics firm Chainalysis showed that illicit use of cryptocurrencies hit a record $20.1 billion …

October Is Now 'Biggest Month In Biggest Year' For Crypto Hacks: Chainalysis
2 years, 2 months ago

October Is Now 'Biggest Month In Biggest Year' For Crypto Hacks: Chainalysis

ABP News  

Cryptocurrencies are slowly gaining traction around the world as a noteworthy investment avenue. As an adverse effect of the growing popularity, crypto hacks have In a Twitter thread on October 13, Chainalysis noted that bad actors have already stolen $718 million from DeFi protocols via 11 separate hacks so far in October. Chainalysis claimed that if the current trends continue …

Billions of dollars of stolen cryptocurrencies laundered using cross-chain tools
2 years, 2 months ago

Billions of dollars of stolen cryptocurrencies laundered using cross-chain tools

The Hindu  

Illicit actors, who are masters at using blockchain protocols and platforms, have moved stolen crypto funds between multiple blockchains, leaving law enforcement agencies struggling to follow their money trail. The inter-connected nature of blockchains has resulted in cyber criminals finding more complex ways to launder money and hide their tracks, according to a report by U.K. based blockchain analysis firm …

NFTs worth $100 million stolen in past year, research firm Elliptic says
2 years, 4 months ago

NFTs worth $100 million stolen in past year, research firm Elliptic says

The Hindu  

Thieves stole over $100 million worth of non-fungible tokens in the year to July, blockchain research firm Elliptic said on Wednesday, as the fast-emerging digital asset became a new front in crypto's hacking problem. Scams remain rife in the NFT market even as it declines, with July seeing the highest number of NFTs reported stolen on record, London-based Elliptic said …

Crypto hack losses surged 60% to $1.9 billion between January and July 2022, reports Chainalysis
2 years, 4 months ago

Crypto hack losses surged 60% to $1.9 billion between January and July 2022, reports Chainalysis

The Hindu  

Losses arising from cryptocurrency hacks jumped nearly 60% in the first seven months of the year to $1.9 billion, propelled by a surge in funds stolen from decentralised finance protocols, according to a blog post from blockchain analysis firm Chainalysis released on Tuesday. "DeFi protocols are uniquely vulnerable to hacking, as their open source code can be studied ad nauseum …

Bitcoin drops below $20,000 as crypto selloff quickens
2 years, 6 months ago

Bitcoin drops below $20,000 as crypto selloff quickens

Associated Press  

NEW YORK — Bitcoin fell below the psychologically important threshold of $20,000 on Saturday for the first time since late 2020, in a fresh sign that the selloff in cryptocurrencies is deepening. The cryptocurrency industry has seen turmoil amid wider turbulence in financial markets — this past week was Wall Street’s worst since 2020, during the early days of the …

Column: Crypto is melting down. Here’s who’s hurt
2 years, 6 months ago

Column: Crypto is melting down. Here’s who’s hurt

LA Times  

Fans line up before the start of a game between the Los Angeles Lakers and Brooklyn Nets at Crypto.com Arena on Christmas Day 2021. Instead, it’s dependent on what is known as the “greater fool” theory: Crypto assets are worth whatever you can persuade another fool to pay you for them. The agency says it has “serious concerns about plans’ …

Does the recent cryptocurrency crash pose a threat to global financial system?
2 years, 7 months ago

Does the recent cryptocurrency crash pose a threat to global financial system?

Live Mint  

On Tuesday, bitcoin fell briefly below $30,000 for the first time in 10 months, while cryptocurrencies overall have lost nearly $800 billion in market value in the past month, according to data site CoinMarketCap, as investors fret about tightening monetary policy. While data on the proportion of retail versus institutional investors in the crypto market is hard to come by, …

Hackers have stolen $1.3 billion from crypto platforms, report says
2 years, 7 months ago

Hackers have stolen $1.3 billion from crypto platforms, report says

The Hindu  

Decentralised finance exchanges are becoming breeding ground for digital thieves. In the first three months of this year, hackers have stolen $1.3 billion from exchanges, platforms, and private entities combined, according to a report by blockchain data platform Chainalysis. A DeFi protocol uses computer code called smart contracts that run on the blockchain network. The majority of hacking attacks happen …

Crypto’s biggest hacks and heists
2 years, 8 months ago

Crypto’s biggest hacks and heists

The Hindu  

Hackers have stolen cryptocurrency worth almost $615 million from a blockchain project linked to the popular online game Axie Infinity, in the latest cyberheist to hit the digital asset sector. Ronin, a network that allows the transfer of crypto coins across different blockchains, said on Tuesday that hackers stole on March 23 some 173,600 ether tokens and 25.5 million USD …

Justice Dept. announces $3.6B crypto seizure, 2 arrests
2 years, 10 months ago

Justice Dept. announces $3.6B crypto seizure, 2 arrests

Associated Press  

WASHINGTON — The Justice Department announced Tuesday its largest-ever financial seizure — more than $3.6 billion — and the arrests of a New York couple accused of conspiring to launder billions of dollars in cryptocurrency stolen from the 2016 hack of a virtual currency exchange. We can and we will follow the money, no matter what form it takes,” Deputy …

North Korean hackers stole $550m worth of cryptocurrency in 2021, report says
2 years, 11 months ago

North Korean hackers stole $550m worth of cryptocurrency in 2021, report says

ABC  

North Korea launched at least seven attacks on cryptocurrency platforms in 2021, extracting nearly $US400 million worth of digital assets, one of its most successful years on record, blockchain analysis firm Chainalysis says in a new report. Key points: Chainalysis did not identify all the targets of the hacks North Korea has not responded to the report yet The United …

North Korean hackers stole $400 million in cryptocurrency in 2021
2 years, 11 months ago

North Korean hackers stole $400 million in cryptocurrency in 2021

The Hindu  

North Korea launched at least seven attacks on cryptocurrency platforms that extracted nearly $400 million worth of digital assets last year, one of its most successful years on record, blockchain analysis firm Chainalysis said in a new report. Last year, the United States charged three North Korean computer programmers working for the country's intelligence service with a massive, years-long hacking …

North Korean hackers stole $400m in crypto last year: report
2 years, 11 months ago

North Korean hackers stole $400m in crypto last year: report

Al Jazeera  

Analysis firm says North Korean-linked hacks jumped from four in 2020 to seven in 2021. North Korea launched at least seven attacks on cryptocurrency platforms that extracted nearly $400m worth of digital assets last year, one of its most successful years on record, blockchain analysis firm Chainalysis said in a new report. “From 2020 to 2021, the number of North …

North Korean Hackers Stole Nearly $400 Million in Crypto Last Year
2 years, 11 months ago

North Korean Hackers Stole Nearly $400 Million in Crypto Last Year

Wired  

The past year saw a breathtaking rise in the value of cryptocurrencies like Bitcoin and Ethereum, with Bitcoin gaining 60 percent in value in 2021 and Ethereum spiking 80 percent. North Korean hackers stole a total of $395 million worth of crypto coins last year across seven intrusions into cryptocurrency exchanges and investment firms, according to blockchain analysis firm Chainalysis. …

Hackers steal $600 million in major cryptocurrency heist
3 years, 4 months ago

Hackers steal $600 million in major cryptocurrency heist

Live Mint  

A firm specializing in transferring cryptocurrency said Tuesday that hackers cracked its security, making off with a record-setting haul potentially worth $600 million. Poly Network put out a plea for the stolen Ethereum, BinanceChain and OxPolygon tokens to be shunned by traders running "wallets" for storing cryptocurrency. "The amount of money you hacked is the biggest one in the defi …

A crypto crash wiped out $1 trillion this week. Here’s what happened
3 years, 7 months ago

A crypto crash wiped out $1 trillion this week. Here’s what happened

CNN  

New York CNN Business — Wild, stomach-churning moments are part of the experience when you buy a ticket to the crypto circus. On Wednesday, a broad crypto crash wiped out about $1 trillion in market value — a staggering drop from $2.5 trillion just a week ago. On May 12, bitcoin fell 12% after Elon Musk walked back Tesla’s commitment …

Bitcoin Value Tanks by 6% After Record Weekend Surge Raised Hopes of $50,000 Mark
3 years, 10 months ago

Bitcoin Value Tanks by 6% After Record Weekend Surge Raised Hopes of $50,000 Mark

News 18  

Bitcoin on Monday fell by over 6 per cent to $45,893 contracting its advance so far this year to about 60%. The world’s largest cryptocurrency had reached a new record on Sunday at about $49,344, reaching closer to the $50,000 mark. Rival cryptocurrency Ether hit a record on Saturday and was up about 150 per cent year-to-date. Bloomberg reported earlier …

Crypto addresses laundered $1.3 bln in dirty funds
3 years, 10 months ago

Crypto addresses laundered $1.3 bln in dirty funds

The Hindu  

Criminals are using a small group of cryptocurrency brokers and services to launder hundreds of millions of dollars of dirty virtual money, research shared with Reuters showed on Thursday. Just 270 cryptocurrency addresses, many connected to over-the-counter brokers, received $1.3 billion in illicit digital coins last year - some 55% of all criminal crypto flows identified by U.S. blockchain researcher …

Crypto’s dirty side: 270 addresses laundered $1.3bn in 2020
3 years, 10 months ago

Crypto’s dirty side: 270 addresses laundered $1.3bn in 2020

Al Jazeera  

New research shows that criminals are using a small group of crypto brokers to launder hundreds of millions of dollars. Criminals are using a small group of cryptocurrency brokers and services to launder hundreds of millions of dollars of dirty virtual money, research shared with Reuters news agency showed on Thursday. A total 270 cryptocurrency addresses, many connected to over-the-counter …

Explained: Reason behind Bitcoin's meteoric rise in 2020
3 years, 11 months ago

Explained: Reason behind Bitcoin's meteoric rise in 2020

India Today  

In a year when currency valuations across the world have suffered due to the coronavirus crisis, one digital currency has managed to register a meteoric rise and a surprising comeback. Bitcoin’s meteoric rise in Covid-hit 2020 Most analysts believe that the Covid-hit year is responsible for the revival and meteoric rise of the digital currency. The fact that interest rates …

Bitcoin breaches an all-time high of $20,000
4 years ago

Bitcoin breaches an all-time high of $20,000

India Today  

The value of bitcoin rose over 6 per cent to $20, 676 on Wednesday, an all-time high recorded in three years. The rally in bitcoin comes after a 2017 spike in the digital currency when it rose by more than 900 per cent to come close to $20,000 by mid-December. The price of bitcoin has surged by more than 400 …

Cryptocurrency has the power to revolutionise a corrupt banking system
4 years, 2 months ago

Cryptocurrency has the power to revolutionise a corrupt banking system

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Since the late 90s, thousands of …

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