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Crystal Blockchain Research Reveals $16.7 Billion in Crypto Belongings Stolen Since 2011 – Bitcoin Information

SB Crypto Guru News by SB Crypto Guru News
March 21, 2023
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Crystal Blockchain Research Reveals .7 Billion in Crypto Belongings Stolen Since 2011 – Bitcoin Information


Crystal Blockchain Research Reveals .7 Billion in Crypto Belongings Stolen Since 2011 – Bitcoin Information

Crystal Blockchain, an organization that gives blockchain knowledge and analytics, revealed a examine masking safety breaches, fraud, and scams associated to cryptocurrency and decentralized finance (defi). In response to the examine, roughly $16.7 billion in crypto belongings have been stolen since 2011. Final yr, Crystal’s intelligence staff documented 199 incidents ensuing within the theft of $4.17 billion in crypto belongings. Thus far this yr, there have been 19 totally different incidents ensuing within the theft of $136 million.

High Nations Focused by Crypto-Associated Incidents: United States Leads in Frequency, China Tops in Worth

On Tuesday, Crystal Blockchain launched a report offering a complete evaluation of fraudulent actions and safety vulnerability assaults since 2011. The report reveals that throughout the previous 12 years, there have been 461 incidents that befell in 45 international locations, leading to $16.7 billion in stolen crypto belongings.

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

In response to Crystal’s intelligence report, 231 defi hacks, 135 safety assaults, and 95 fraudulent schemes had been reported throughout this era. Defi hacks ranked second when it comes to worth, with $4.81 billion stolen, whereas scams resulted in additional than $7.5 billion in stolen crypto belongings.

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

In response to the examine, america has the very best variety of incidents towards crypto firms and dangerous actors. Nonetheless, when it comes to total worth, China ranks highest because of the Plus Token Ponzi rip-off in 2019 and the Wotoken Ponzi in 2020.

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

Crystal researchers state that till 2021, the most well-liked assaults had been towards crypto-exchange safety techniques, however since then, attackers have shifted to decentralized finance hacks. At present, Crystal experiences that centralized trade (cex) hacks trigger the least quantity of monetary injury. “In 2022, the ratio of cex versus [decentralized exchange (dex)] hacks was as excessive as 1:13,” notice Crystal’s researchers.

The biggest defi hack thus far was the Ronin community bridge hack in March 2022, ensuing within the lack of over $650 million. The vast majority of the funds stolen within the Ronin hack had been transferred to Twister Money, a cryptocurrency mixing service.

Crystal researchers notice that “Twister Money stays the most well-liked service for laundering funds on the Ethereum Blockchain.” The report states that final yr, stolen crypto belongings from the highest 10 defi exploits exceeded $2.61 billion. Moreover, non-fungible token (NFT) rug pulls grew to become widespread in 2022, with Crystal counting “48 profitable scams” throughout the yr.

Crystal Blockchain’s report in its entirety may be learn right here.

Tags on this story
Analytics, Blockchain, Blockchain Evaluation, China, crypto trade, Cryptocurrency, cryptocurrency mixing service, cryptocurrency theft, Crystal Blockchain, Cyber Safety, cyberattacks, Cybercrime, decentralized finance, DeFi, Digital Belongings, Ethereum blockchain, monetary injury, Monetary Know-how, Fraud, Hackers, Cash Laundering, nft, Ponzi rip-off, Ronin community bridge hack, rug pulls, Scams, safety breaches, stolen belongings, Twister money, United States

What do you assume ought to be carried out to enhance safety measures within the cryptocurrency and decentralized finance (defi) house? Share your ideas and concepts within the feedback part under.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information concerning the disruptive protocols rising immediately.




Picture Credit: Shutterstock, Pixabay, Wiki Commons, Crystal Blockchain,

Disclaimer: This text is for informational functions solely. It isn’t a direct provide or solicitation of a proposal to purchase or promote, or a advice or endorsement of any merchandise, providers, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, straight or not directly, for any injury or loss induced or alleged to be brought on by or in reference to using or reliance on any content material, items or providers talked about on this article.

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