According to a report by analytical company Coinfirm, the revenues of cryptocurrency criminals in 2020 decreased compared to the previous year and amounted to approximately $ 10.5 billion.
According to Coinfirm analysts, cryptocurrency criminals managed to steal about $ 10.5 billion in 2020. At the same time, 67.8% of the stolen money was embezzled through fraud, and only 9.6% were obtained by criminals through hacking of cryptocurrency platforms.
With the help of the darknet markets and drug trafficking, cybercriminals obtained about 18.4% of the total amount of illegal income, and crimes related to violations of sanctions brought in 3.9% of the annual volume.
Cryptocurrency scammers have earned far less than criminals in the traditional financial sector. EY estimates that traditional finance crimes last year allowed cybercriminals to earn $ 1.4-3.5 trillion.
Income from cryptocurrency scams surged in 2020, in part due to the PlusToken cryptocurrency pyramid. In November, the Chinese police confiscated $ 4.2 billion worth of crypto assets from PlusToken organizers.The total damage from the scheme is estimated at $ 7.6 billion.
The report also notes that most of the cryptocurrency crime remains outside of analytics. Approximately 80% of cases of fraud and burglaries are not reported in the year they occurred, and approximately 50% of crimes are not reported by victims at all.
According to analyst firm CipherTrace, the DeFi industry was the most vulnerable to fraud and attacks last year – cryptocurrency criminals stole $ 1.9 billion in 2020.
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