• Latest
Crystal Blockchain Report: $12.1 billion worth of crypto-assets stolen since 2011

Crystal Blockchain Report: $12.1 billion worth of crypto-assets stolen since 2011

December 20, 2021
Friendly Chargeback Fraud: What It Is and How to Stop It

Dark Web Price Index 2022 Released

June 30, 2022
New Podcast Episode: Walls of Thieving Cellphones with Nethone

New Podcast: How to choose an e-commerce fraud solution in 2022 and beyond

June 29, 2022
These Main Order Variables Indicate Fraud—But How Can We Tell Fraud From Good Customer Behavior?

How to Reduce Chargeback Risk

July 3, 2022
How Ecommerce Stores Can Minimize Cloud Computing Cyberseucrity Risks

Commercial Real Estate Cybersecurity

June 27, 2022
Anti-phishing working group reports 1,000,000+ phishing attacks in Q1 2022

Anti-phishing working group reports 1,000,000+ phishing attacks in Q1 2022

June 23, 2022
Is PSD3 on the horizon? EU Commission Begins Public Consultation.

Is PSD3 on the horizon? EU Commission Begins Public Consultation.

June 17, 2022
New Podcast Episode: Walls of Thieving Cellphones with Nethone

New Podcast: A former FBI Special Agent and CIA Cyber-Operations Officer discusses IT security and cyber terrorism

June 14, 2022
Everything You Need To Know About PSD2 Requirements

Everything You Need To Know About PSD2 Requirements

June 13, 2022
One in four U.S. consumers impacted by identity theft in 2021, Aite-Novarica consumer survey finds

One in four U.S. consumers impacted by identity theft in 2021, Aite-Novarica consumer survey finds

June 10, 2022
Apple Adds Buy Now Pay Later Option to Apple Pay Wallet

Apple Adds Buy Now Pay Later Option to Apple Pay Wallet

June 9, 2022
What is Formjacking?

What is Formjacking?

June 9, 2022
The App Store stopped nearly $1.5 billion in fraudulent transactions in 2021

The App Store stopped nearly $1.5 billion in fraudulent transactions in 2021

June 2, 2022
  • Contribute
  • Contact Us
  • About
  • Join Us
  • Advertise
Monday, July 4, 2022
Merchant Fraud Journal
  • Home
  • Articles
    • Chargebacks
    • Fraud Prevention
    • Influencer Insights
  • Resources
    • Recorded Webinars
    • Podcasts
    • Vendor Directory
    • eCommerce Fraud Reports
    • Training and Certifications
    • Jobs Board
    • Associations and Non-Profits
  • News
No Result
View All Result
  • Home
  • Articles
    • Chargebacks
    • Fraud Prevention
    • Influencer Insights
  • Resources
    • Recorded Webinars
    • Podcasts
    • Vendor Directory
    • eCommerce Fraud Reports
    • Training and Certifications
    • Jobs Board
    • Associations and Non-Profits
  • News
No Result
View All Result
Merchant Fraud Journal
No Result
View All Result

Crystal Blockchain Report: $12.1 billion worth of crypto-assets stolen since 2011

by Bradley
December 20, 2021
in News
Crystal Blockchain Report: $12.1 billion worth of crypto-assets stolen since 2011

Crystal Blockchain is a globally distributed team of world-class blockchain analysts, has released its bi-annual report Crypto & DeFi Hacks & Scams Report. According to the research, there were 120 security attacks, 73 attacks on DeFi protocols, and 33 fraudulent schemes that have so far resulted in the theft of approximately $12.1 billion worth of crypto assets in total between 2011-2021.

The report states that over $1.7 billion was stolen from DeFi protocols. According to Crystal’s experts this can be explained by the fact that the technology is new and still has a lot of vulnerabilities. The biggest DeFi breach to date occurred in 2021 to Poly Network, a DeFi initiative, targeted by a hacker, or hackers, who stole more than $614 million in tokens (worth noting that the majority of these funds have been returned).

A leader in the laundering of dirty bitcoins is BTC-e (indicted for money laundering in January 2017), which managed to launder over 200,000 BTC over several years. According to the Crystal database, over a third (39%) of all stolen BTC funds were distributed via Fraudulent Exchanges, defined as exchanges that have been involved in exit scams, illegal behavior, or who have had funds seized by the government.

A bar graph showing the stacked total amount of stoeln virtual assets in USD 2011-2021

Key takeaways from the 2021 Crypto & DeFi Hacks & Scams Report by Crystal: 

  • The most popular method of crypto-theft has been the infiltration of crypto-exchange security systems.
  • So far, $3.18 billion has been stolen through security breaches, $7.12 billion has been stolen through scams, and $1.76 billion through DeFi hacks.
  • The most common locations for exchange security breaches are the US, the UK, South Korea, Japan, and China.
  • In 2020–2021, DeFi hacks started trending and continue to grow.
  • Ransomware is on the rise, with the most noticeable attacks in 2021 being on JBS (paid $11m to REvil ransomware) and Сolonial Pipeline (paid $7m to DarkSide).
  • Scams using NFTs are also trending, with the market cap for NFTs having jumped by 1785% so far in 2021. Growing adoption inevitably leads to more bad actors in the space.

“Distributing up-to-date Security Breach and Fraud information helps highlight the current situation in the cryptocurrency world and shows how compliance services are essential for progress in the industry” – Marina Khaustova, CEO at Crystal Blockchain.

The latest report is available on the Security Breaches & Scams Page on our website.

CTA Contact us for your investigations at investigations@crystalblockchain.com


About Crystal Blockchain:

The company designs blockchain solutions for virtual asset service providers and regulatory agencies. Crystal is making it harder for cybercrime gangs to profit. Should a ransom be paid, the company can track what happens to this crypto — by scrutinizing blockchain records to determine where funds end up and making it harder for criminals to launder stolen funds via the blockchain.

 

Media Contact:

Lesia Klochai

PR Manager

lesia.klochai@crystalblockchain.com

Tags: Blockchain PaymentsCryptocurrency
ShareTweetShareSend
Previous Post

The fraud detection and prevention (FDP) market to surpass $100 billion by 2027

Next Post

PerimeterX Survey Reveals E-gift Card Attacks, Automated Fraud and Scalping Bot Usage on the Rise

Next Post
PerimeterX Survey Reveals E-gift Card Attacks, Automated Fraud and Scalping Bot Usage on the Rise

PerimeterX Survey Reveals E-gift Card Attacks, Automated Fraud and Scalping Bot Usage on the Rise

Our Sponsors

Our Latest Report

Get the 2022 Fraud Trends Report

MFJ 2022 Fraud Trends Report

Search Our Site

No Result
View All Result

Featured Directory Listings

  • Microsoft Dynamics 365 Fraud Protection
  • PayRetailers
  • Spotrisk
  • logo
    NoFraud
  • nSure.ai logo
    nSure.ai
  • Pipl
  • SEON. Fraud Fighters
  • Ekata
  • sift logo
    Sift

Our Sponsors

Fraud Industry News

Friendly Chargeback Fraud: What It Is and How to Stop It

Dark Web Price Index 2022 Released

June 30, 2022
New Podcast Episode: Walls of Thieving Cellphones with Nethone

New Podcast: How to choose an e-commerce fraud solution in 2022 and beyond

June 29, 2022
These Main Order Variables Indicate Fraud—But How Can We Tell Fraud From Good Customer Behavior?

How to Reduce Chargeback Risk

July 3, 2022

Connect With Us

Quick Navigation

  • Home
  • News
  • Join Us
  • About Us
  • Contact Us
  • Advertise
  • Contribute
  • Privacy Policy

Privacy Policy

Our Privacy Policy
Our Terms of Use

Resources

  • Articles
  • eCommerce Fraud Reports
  • eCommerce Fraud Webinars
  • Training and Certifications
  • Jobs Board
  • Associations and Non-Profits
  • Podcasts
  • Vendor Directory

Popular Posts

  • How Does Two-Factor Authentication (2FA) Work?

    How Does Two-Factor Authentication (2FA) Work?

    0 shares
    Share 0 Tweet 0
  • How to File a Claim With FedEx + What To Do If Claim is Denied

    0 shares
    Share 0 Tweet 0
  • Top eCommerce Fraud Prevention Companies

    0 shares
    Share 0 Tweet 0
  • Ebay PayPal Scam Strikes Merchants

    0 shares
    Share 0 Tweet 0

Featured Vendors

  • nSure.ai
  • Sift
  • PayRetailers
  • NoFraud
  • Spotrisk
  • Microsoft Dynamics 365 Fraud Protection
  • SEON. Fraud Fighters
  • Pipl
  • Ekata

Download the 2022 Fraud Trends Report

No Result
View All Result
  • About Merchant Fraud Journal
    • Advertise on Merchant Fraud Journal
    • Interested in Contributing or Guest Posting to Merchant Fraud Journal?
  • Articles
    • Chargebacks
    • Fraud Prevention
    • Influencer Insights
  • Contact Us
  • Download Addressing Payment Fraud and Customer Experience Report
  • Download Evolving Complexities of Payment Fraud Report
  • Download the 2020 Chargeback and Representment Report
  • Download the 2020 Merchant Fraud Journal Vendor Guide
  • Download the 2021 Fraud Trends Report
  • Download the 2022 Fraud Trends Report
  • Download the 3 Ways a Unified Chargeback Management and Fraud Platform Increases Revenue Report
  • Download the MFJ 2022 Customer Experience Report
  • Download the MFJ ATO in Retail Report
  • Home
  • Job Dashboard
  • Join The Merchant Fraud Journal Community
  • Merchant Fraud Journal Advertising Agreement
  • MFJ Fraud Trends Report Giveaway
  • News
  • Post a Job
  • Privacy Policy
  • Resources
    • 2020 Chargeback Representment Guide for Merchants
    • 2020 Vendor Guide
    • 3 Ways a Unified Chargeback Management and Fraud Platform Increases Revenue
    • Addressing Payment Fraud and the Customer Experience in 2022
    • Associations and Non-Profits
    • ATO Fraud In Retail Report
    • Balancing Customer Experience and Fraud Prevention: What’s the Secret?
    • Digital Trust & Safety: Combating the Evolving Complexities of Payment Fraud
    • eCommerce Fraud Reports
    • eCommerce Fraud Webinars
    • Fraud Prevention Training and Certifications
    • Jobs Board
    • Merchant Fraud Journal’s Fraud Trends 2020 Report
    • Merchant Fraud Journal’s Fraud Trends 2021 Report
    • Merchant Fraud Journal’s Fraud Trends 2022 Report
    • MFJ’s 2022 Customer Experience Report
    • Podcasts
    • Prevent High-Velocity Fraud Attacks During the 2021 Holiday Season
    • Vendor Directory
    • Webinar – Addressing Payment Fraud and the Customer Experience in 2022
    • Win January Chargeback Disputes
  • Subscribed
  • Terms and Conditions

© 2021 Payments Media Solutions Canada Inc.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
[class^="wpforms-"]
[class^="wpforms-"]