Crystal Blockchain Study Reveals $16.7 Billion in Crypto Assets Stolen Since 2011

Crystal Blockchain, a institution that provides blockchain information and analytics, published a survey covering information breaches, fraud, and scams related to cryptocurrency and decentralized concern (defi). According to the study, astir $16.7 cardinal successful crypto assets person been stolen since 2011. Last year, Crystal’s quality squad documented 199 incidents resulting successful the theft of $4.17 cardinal successful crypto assets. So acold this year, determination person been 19 antithetic incidents resulting successful the theft of $136 million.

Top Countries Targeted by Crypto-Related Incidents: United States Leads successful Frequency, China Tops successful Value

On Tuesday, Crystal Blockchain released a study providing a broad investigation of fraudulent activities and information vulnerability attacks since 2011. The study reveals that during the past 12 years, determination were 461 incidents that took spot successful 45 countries, resulting successful $16.7 cardinal successful stolen crypto assets.

According to Crystal’s quality report, 231 defi hacks, 135 information attacks, and 95 fraudulent schemes were reported during this period. Defi hacks ranked 2nd successful presumption of value, with $4.81 cardinal stolen, portion scams resulted successful much than $7.5 cardinal successful stolen crypto assets.

According to the study, the United States has the highest fig of incidents against crypto companies and atrocious actors. However, successful presumption of wide value, China ranks highest owed to the Plus Token Ponzi scam successful 2019 and the Wotoken Ponzi successful 2020.

Crystal researchers authorities that until 2021, the astir fashionable attacks were against crypto-exchange information systems, but since then, attackers person shifted to decentralized concern hacks. Currently, Crystal reports that centralized speech (cex) hacks origin the slightest magnitude of fiscal damage. “In 2022, the ratio of cex versus [decentralized speech (dex)] hacks was arsenic precocious arsenic 1:13,” enactment Crystal’s researchers.

The largest defi hack to day was the Ronin web span hack successful March 2022, resulting successful the nonaccomplishment of implicit $650 million. The bulk of the funds stolen successful the Ronin hack were transferred to Tornado Cash, a cryptocurrency mixing service.

Crystal researchers enactment that “Tornado Cash remains the astir fashionable work for laundering funds connected the Ethereum Blockchain.” The study states that past year, stolen crypto assets from the apical 10 defi exploits exceeded $2.61 billion. Additionally, non-fungible token (NFT) rug pulls became fashionable successful 2022, with Crystal counting “48 palmy scams” during the year.

Crystal Blockchain’s study successful its entirety tin beryllium work here.

What bash you deliberation should beryllium done to amended information measures successful the cryptocurrency and decentralized concern (defi) space? Share your thoughts and ideas successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Crystal Blockchain,

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.