Cryptocurrency hacks and fraud cases escalate in 2021 to nearly $ 3 billion

The increase in interest in cryptocurrencies has been accompanied by an increase in the number of hacks and fraud cases in the digital currency market. Specifically, there have been 32 incidents so far in 2021 , which translated into figures would have a value of almost $ 3 billion, according to Crypto Head’s analysis .

The median value of the attacks perpetrated this year is $ 93.3 million. If this rhythm continues, they will soon surpass the 38 cases registered in 2020. A figure that, in turn, also represents an increase in incidents of more than 40% compared to 2019 .

In the last decade there have been 126 breaches in portfolios and cryptocurrency exchange institutions , being the most common type of attack even ahead of hacks related to decentralized finance. The total value subtracted during this period amounts to $ 19.2 billion.

According to experts, the possible record in the number of attacks this year will not have its equivalent in terms of collection. That position is held by 2017, the year in which hackers stole a total of 4.7 billion . The largest breach to date is that of Mt. Gox, with 615 million dollars stolen, and which ended up leading the platform to declare insolvency in 2014.

Bitcoin, the most attacked

Bitcoin is the most traded cryptocurrency in the world and also the most attacked:  representing 43% of the digital currency market, it records 33.3% of hacks and fraud cases . According to data from, bitcoin’s valuation has soared this year to $ 2.1 trillion.

In the second place in the ranking of the most attacked cryptocurrencies is Ethereum, with 12.8% of the violations that have taken place during the last decade.

By country, the  United States is the most attacked , with 17 hacks and fraud cases, followed by the United Kingdom and South Korea, with 12 and 9 incidents, respectively.

However, breaches in wallets and cryptocurrency exchange institutions are not the most lucrative attacks for criminals but fraud cases, with which they can get  up to 14 times more .

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Joann Kirkland
A vernacular business entrepreneur, Joann initiated her startup from scratch with experience serving various well-known firms. She loves writing and devotes her spare time writing business news for The Croatia Times.

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