Hacks and Scams

Note: Data in this section last updated September 12th, 2022

Crime is an ongoing problem in the cryptocurrency space. According to blockchain data firm Chainalysis, over $14B was stolen in 2021 across the broader ecosystem.

Criminals Stole Over $14B in Cryptocurrencies in 2021

Source: Chainalysis 2022 Crypto Crime Report

Three of the most popular methods used by criminals include:

• Malware: Malicious software that infiltrates a user’s computer, generally gaining access to his or her private keys

• Code Exploits: Occur when coders find a vulnerability in a smart contract and leverage that to siphon funds to their own address

• Scams: Utilize social engineering to deceive users and steal funds (e.g. a Ponzi Scheme)

Let’s take a deeper look into each of these categories below... 👉