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Cryptocurrency Theft Totals Quickly Approaching $20B Over the Past Decade

Scams have only gotten worse in the past few years, and many can be linked back to the cryptocurrency market’s humble beginnings. Indeed, even in 2011, there was a rampant problem. A recent report by De Correspondent found that, in total, €15 billion ($16.7B) in cryptocurrencies have been stolen since 2011.

The analysis presents a long list of scammed exchanges that have plagued the industry over the years. Some exchanges and entities were simply victims of hackers; others, however, outright taken its users.

De Correspondent looked into 70 of the worst fraud cases in the cryptocurrency industry — topping the list is OneCoin (€3.6B), PlusToken (€2.6B), Bitconnect (€2.25), and BTC-e (€1.3B). These four hacks are the only instances where the stolen funds amounted to more than €1 billion.

Full article here:

https://beincrypto.com/cryptocurrency-theft-totals-quickly-approaching-20b-over-past-decade/