How Cryptocurrency Scams Work
There is a place for deception in the history of the cryptocurrency market. Hundreds of millions of US dollars have been stolen as a result of the biggest scams.
Today the WSJ has published an infographic with the history of the biggest scams and hacks since July 2011. The largest were the hacks of cryptocurrency exchanges: theft of BTC from Mt.Gox at the end of 2013 and NEM from Coincheck at the beginning of 2018. In total, from these two successful cyberattacks alone, investors lost $ 850 million.
They are followed by hacking BitGrail with the theft of Nano for $ 170 million and an error found in the Ethereum wallet, which allowed to steal $ 160 million from ETH users. In addition, nine more facts are known when the attackers managed to get from $ 30 to $ 100 million. In total, only Investors lost almost $ 1.7 billion as a result of the 15 largest fraud cases.
Although the rest of the examples given do not exceed $ 10 million, their number and scale indicate the vulnerability of the infrastructure and services of the digital currency market..
Earlier we wrote that Alexander Vinnik is ready to testify on money laundering via BTC-e.
text: Ivan Malichenko, photo: Getty images, infographic: WSJ