A record amount of cryptocurrency hacking and fraud

A study released on Tuesday showed that cases of irregularities and fraud in the cryptocurrency market are rising to their highest level this year, reaching more than $ 2 trillion as the market itself grows.

So far is 2021. There were 32 cases of hacking and fraud worth $ 2.99 billion in 2006. This is approaching 38 cases last year, and according to a Crypto Head analysis that monitors information and writes guidance on the cryptocurrency market, it is 40.7% higher than in 2019. in.

The average value of this year’s hacking and fraud cases is $ 93.3 million. On average, the number of crimes increases by 41% every year.

Violations of wallets and cryptocurrencies are the most common type of attack, with 126 in the last ten years, surpassing attacks and fraud involving DeF’s decentralized finances. “But the number of DeF violations is growing, and this new technology is more open to potential vulnerabilities,” wrote James Page, Crypto Head’s cryptocurrency technical writer.

Over the last ten years, $ 19.2 billion has been stolen due to irregularities and fraud. Bitcoin is the most targeted cryptocurrency, accounting for 33.3% of all hacking and fraud cases. Bitcoin accounts for about 43% of the total cryptocurrency market, which has risen in value to $ 2.1 trillion this year, CoinMarketCap.com reports .

Ethereum is the second targeted crypto, accounting for 12.8% of violations in the last ten years.

But it is fraud that is most profitable for criminals, who have taken an average of $ 365 million, more than 14 times as much as violations, said Crypto Head.

The United States is the most targeted country, followed by the United Kingdom and South Korea.

The year 2021 could set a record number of violations, but hackers still earned the most money in 2017, stealing an average of $ 223.5 million and a total of $ 4.7 billion. The biggest violation so far is Mt. Gox, which stole $ 615 million over the years, led to the platform in 2014. year to insolvency.