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Crypto Hackers Have Stolen $19 Billion Since 2011: Report

According to a new report, hackers have stolen $19 billion U.S. worth of cryptocurrency since 2011.

The report from Crystal Intelligence claims that crypto hacks continue to occur in jurisdictions around the world and that the industry is struggling with ongoing blockchain-related crimes.

The report cites 785 incidents of cryptocurrency thefts comprising 220 security breaches, 345 decentralized finance (DeFi) hacks, and 220 fraud schemes.

The biggest theft ever occurred in 2019 when $2.9 billion U.S. was stolen in connection to the Plus Token Ponzi scheme.

Looking at the current state, Crystal intelligence says that crypto crime continues to surge and 2023 set records for the volume of crypto thefts with 286 incidents worth $2.3 billion U.S.

Over the past two years Ethereum (ETH) has become the number one target of criminals, with 131 incidents worth almost $1.3 billion U.S.

Binance Smart Chain (BSC) is the second most hacked cryptocurrency, with more than 100 incidents valued at $186 million U.S.

In recent weeks, Japanese cryptocurrency exchange DMM Bitcoin was hacked and $320 million U.S. of digital coins and tokens were stolen.

Law enforcement officials have said that stolen cryptocurrency is frequently used to fund illegal activities orchestrated by organized crime and rogue governments around the world.