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Concept
Cryptocurrency and crime
Summary
Cryptocurrency and crime describes notable examples of cybercrime related to theft (or the otherwise illegal acquisition) of cryptocurrencies and some of the methods or security vulnerabilities commonly exploited. Cryptojacking is a form of cybercrime specific to cryptocurrencies that has been used on websites to hijack a victim's resources and use them for hashing and mining cryptocurrencies.
According to blockchain analysis company Chainalysis, .15% of known cryptocurrency transactions conducted in 2021 were involved in illicit activities like cybercrime, money laundering and terrorism financing, representing a total of 1.7 billion in cryptocurrency was lost to scams, theft and fraud. In the first quarter of 2019, the amount of such losses rose to US70 million using a hijacked company computer.
On December 19, 2017, Yapian, the owner of South Korean exchange Youbit, filed for bankruptcy after suffering two hacks that year.
Official source
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