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How Much Money Has Been Made From Scams & Fraud In 2018

About $ 1.7 billion in Crypto was obtained by illegal means in 2018, according to a study published by cryptanalytical company CipherTrace on January 29.

Over $ 950 million were stolen from Crypto markets, a 3,6% increase from 2017. On the other hand, at least $ 725 million were lost in 2018 by fraud, such as Ponzi schemes, outflow schemes, and deceptive ICO.

The sim scam

CipherTrace also lists what the company believes are the top 10 threats to cryptocurrencies: the biggest is the SIM card exchange, which is a type of identity theft, including taking control of the victim’s phone number, usually to receive access to authentication codes with two factors.


The other major threats that are crypto dusting, which includes sending Crypto remnants to huge numbers of addresses

The report is also mentioning crypto hack attacks on data centers оr small companies/ personal computer, accepting this hack will lead to lock on certain fails or the whole data. The only way to unlock it is via paying the amount stated in the blackmail

Don’t open unknown files!

The study warns about decentralized attacks who could be anonymous, online blackmail, and finally, crypto ransomware that not only prevents access to user data but also steals the personal keys of the wallet. As recently reported, the study outlined by Chainalysis’s block analyst firm has revealed that two probably still active hacker groups have stolen $ 1 billion in cryptocurrency. 

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