Cryptocurrency and crime

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'''Cryptocurrency and crime''' describes how criminals use cryptocurrencies or target them for criminal purposes. This includes investment and romance scams (often called "pig-butchering"), ransomware payments, thefts and exchange hacks, money laundering and sanctions evasion, darknet-market transactions, and off-chain coercion to obtain private keys. Law enforcement notes that investment fraud and laundering are frequent criminal uses of cryptocurrencies, while noting that public blockchains can also aid law inforcement in tracing, seizures, and arrests.<ref>{{Cite report |title=Internet Organised Crime Threat Assessment (IOCTA) 2024 |publisher=Europol |date=2024 |url=https://www.europol.europa.eu/publications-events/main-reports/iocta-report |access-date=October 30, 2025}}</ref><ref>{{Cite report |title=Cryptocurrencies: Tracing the evolution of criminal finances |publisher=Europol |date=2021 |url=https://www.europol.europa.eu/cms/sites/default/files/documents/Europol%20Spotlight%20-%20Cryptocurrencies%20-%20Tracing%20the%20evolution%20of%20criminal%20finances.pdf |access-date=October 30, 2025}}</ref>

== Background == Cryptocurrencies are digital assets transferred on distributed ledgers without a central administrator. Transfers are borderless, typically irreversible, and control depends on possession of private keys rather than accounts held by a single intermediary.<ref>{{cite web |title=Updated Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers |url=https://www.fatf-gafi.org/en/publications/Fatfrecommendations/Guidance-rba-virtual-assets-2021.html |publisher=Financial Action Task Force |date=28 October 2021 |access-date=31 October 2025}}</ref>

Criminals use cryptocurrencies when they make certain offences easier than traditional methods. For example, to move funds quickly across borders, take payment without going through banks, or launder proceeds through lightly regulated services. These traits suit offences such as theft, investment fraud and "pig-butchering," ransomware payments, darknet-market trade, money laundering and sanctions evasion.<ref name="IOCTA2024">{{cite report |title=Internet Organised Crime Threat Assessment (IOCTA) 2024 |publisher=Europol |date=22 July 2024 |url=https://www.europol.europa.eu/publication-events/main-reports/internet-organised-crime-threat-assessment-iocta-2024 |access-date=31 October 2025}}</ref><ref name="UNODC">{{cite web |title=Money laundering through cryptocurrencies |url=https://syntheticdrugs.unodc.org/syntheticdrugs/en/cybercrime/launderingproceeds/moneylaundering.html |publisher=United Nations Office on Drugs and Crime |access-date=31 October 2025}}</ref><ref>{{cite web |title=A race against time: Recommendations from the 7th Global Conference on Criminal Finances and Cryptoassets |url=https://baselgovernance.org/sites/default/files/2024-05/240506_Crypto-7th%20conference-recommendations.pdf |publisher=Basel Institute on Governance and Europol |date=2024 |access-date=31 October 2025}}</ref>

Since 2019, authorities have tried to limit the criminal misuse of crypto by bringing "virtual assets" and virtual-asset service providers (VASPs) into anti-money-laundering and counter-terrorist-financing (AML/CFT) rules. The standards require licensing or registration, customer due diligence, and the "travel rule" for originator/beneficiary information. Governments pair these with supervision and enforcement (including asset seizures, sanctions, and joint takedowns) and with more cross-border information-sharing among financial-intelligence units and police.<ref>{{cite web |title=Virtual assets |url=https://www.fatf-gafi.org/en/topics/virtual-assets.html |publisher=Financial Action Task Force |access-date=31 October 2025}}</ref><ref>{{cite web |title=Virtual Assets: Targeted update on implementation of the FATF Standards on VAs and VASPs |url=https://www.fatf-gafi.org/content/dam/fatf-gafi/recommendations/2024-Targeted-Update-VA-VASP.pdf.coredownload.inline.pdf |publisher=Financial Action Task Force |date=9 July 2024 |access-date=31 October 2025}}</ref><ref name="FATC2025">{{cite web |title=Targeted Update on Implementation of the FATF Standards on Virtual Assets and Virtual Asset Service Providers |url=https://www.fatf-gafi.org/content/dam/fatf-gafi/recommendations/2025-Targeted-Upate-VA-VASPs.pdf.coredownload.pdf |publisher=Financial Action Task Force |date=June 2025 |access-date=31 October 2025}}</ref><ref>{{cite web |title=2024 National Strategy for Combating Terrorist and Other Illicit Financing |url=https://home.treasury.gov/system/files/136/2024-Illicit-Finance-Strategy.pdf |publisher=U.S. Department of the Treasury |date=16 May 2024 |access-date=31 October 2025}}</ref><ref>{{cite web |title=One of the darkweb's largest cryptocurrency "laundromats" washed out |url=https://www.europol.europa.eu/media-press/newsroom/news/one-of-darkwebs-largest-cryptocurrency-laundromats-washed-out |publisher=Europol |date=15 March 2023 |access-date=31 October 2025}}</ref>

However, offenders still work around these controls. Common methods include routing funds through non-compliant or offshore providers; peer-to-peer transfers and OTC brokers; mixers/tumblers, peel-chain transactions, and cross-chain "hops" via bridges; and other anonymity-enhancing tools, sometimes combined with stolen or synthetic identities at compliant platforms. Uneven implementation of AML/CFT standards (including the travel rule) across jurisdictions remains a widely noted gap, and decentralised or extra-jurisdictional services can be harder to disrupt; many investigations therefore still focus on identifying fiat on-/off-ramps and coordinating across borders.<ref>{{cite web |title=Cryptocurrencies – Tracing the evolution of criminal finances |url=https://www.europol.europa.eu/publications-events/publications/cryptocurrencies-tracing-evolution-of-criminal-finances |publisher=Europol |date=26 January 2022 |access-date=31 October 2025}}</ref><ref name="UNODC" /><ref name="FATF2024">{{cite report |title=Virtual Assets: Targeted update on implementation of the FATF Standards on VAs and VASPs |url=https://www.fatf-gafi.org/en/publications/Fatfrecommendations/targeted-update-virtual-assets-vasps-2024.html |publisher=Financial Action Task Force |date=9 July 2024 |access-date=31 October 2025}}</ref><ref name="FATC2025" />

== Scope and impact == The overall scale of crypto-related crime is difficult to measure and figures below are not directly comparable (different geographies, methodologies, and crime types). Still, recent indicators give a sense of order of magnitude.

{| class="wikitable sortable" ! Indicator ! Latest figure (year) ! Scope / coverage / source |- | U.S. consumer fraud where cryptocurrency was the payment method | US$1.42 billion (2024) | FTC Consumer Sentinel Data Book 2024; payment-method breakdown (crypto subtotal).<ref>{{cite web |title=Consumer Sentinel Network Data Book 2024 |url=https://www.ftc.gov/system/files/ftc_gov/pdf/CSN-Data-Book-2024.pdf |publisher=Federal Trade Commission |date=2025 |page=8 |access-date={{CURRENTMONTHNAME}} {{CURRENTDAY}}, {{CURRENTYEAR}}}}</ref> |- | U.S. investment-fraud losses involving cryptocurrency (IC3) | US$9.27 billion (2024) | FBI Internet Crime Report 2024 (cryptocurrency investment fraud).<ref>{{cite web |title=2024 Internet Crime Report |url=https://www.ic3.gov/Media/PDF/AnnualReport/2024_IC3Report.pdf |publisher=Federal Bureau of Investigation (IC3) |date=2025 |page=34 |access-date={{CURRENTMONTHNAME}} {{CURRENTDAY}}, {{CURRENTYEAR}}}}</ref> |- | Estimated global ransomware payments | ~US$813–814 million (2024) | Chainalysis 2025 reporting on 2024 payouts (covered by reliable outlets).<ref name="Milmo-2025">{{cite news |title=Global ransomware payments plunge by a third amid crackdown |work=The Guardian |date=2025-02-05 |url=https://www.theguardian.com/technology/2025/feb/05/global-ransomware-payments-plunge-by-a-third-amid-crackdown |last=Milmo |first=Dan |language=en-GB |issn=0261-3077 |access-date={{CURRENTMONTHNAME}} {{CURRENTDAY}}, {{CURRENTYEAR}}}}</ref><ref>{{cite magazine |title=Ransomware Payments Hit a Record $1.1 Billion in 2023 |magazine=Wired |date=2024-02-07 |url=https://www.wired.com/story/ransomware-payments-2023-breaks-record |access-date={{CURRENTMONTHNAME}} {{CURRENTDAY}}, {{CURRENTYEAR}}}}</ref> |- | Crypto stolen in hacks (global) | ~US$2.2 billion (2024) | Chainalysis year-end estimate for 2024 hacking losses, reported by Reuters.<ref>{{cite news |title=Losses from crypto hacks jump to $2.2 bln in 2024, report says |work=Reuters |date=2024-12-19 |url=https://www.reuters.com/technology/losses-crypto-hacks-jump-22-bln-2024-report-says-2024-12-19/ |access-date={{CURRENTMONTHNAME}} {{CURRENTDAY}}, {{CURRENTYEAR}}}}</ref> |- | Value received by identified illicit crypto addresses (global) | US$40.9 billion (2024) (lower-bound) | Chainalysis Crypto Crime report series (value received by addresses classified as illicit; subject to revision as new clusters are identified).<ref>{{cite web |title=2025 Crypto Crime Trends |url=https://www.chainalysis.com/blog/2025-crypto-crime-report-introduction/ |publisher=Chainalysis |date=2025-01-15 |access-date={{CURRENTMONTHNAME}} {{CURRENTDAY}}, {{CURRENTYEAR}}}}</ref> |- | Sanctions-related crypto flows (value received by sanctioned jurisdictions / actors) | ≈US$15.8 billion (2024) | Chainalysis estimate for 2024 (≈39% of illicit transactions), reported by AP; see also TRM Labs analysis of sanctions-linked activity.<ref>{{cite news |title=US weighs lifting sanctions on Tornado Cash privacy tool as it seeks new crypto rules |work=Associated Press |date=2025-02-05 |url=https://apnews.com/article/crypto-sanctions-treasury-tornado-cash-4cec9bbdee5a6a3eb0d98e6d30b344f7 |access-date={{CURRENTMONTHNAME}} {{CURRENTDAY}}, {{CURRENTYEAR}}}}</ref><ref>{{cite web |title=Illicit finance increasingly turns to stablecoins |url=https://www.trmlabs.com/post/illicit-crypto-transactions-increasingly-shift-to-stablecoins |publisher=TRM Labs |date=2025-05-07 |access-date={{CURRENTMONTHNAME}} {{CURRENTDAY}}, {{CURRENTYEAR}}}}</ref> |- | Illegal online gambling via crypto (GGR) | ~US$81.4 billion (2024) | ''Financial Times'', reporting Yield Sec's estimate of gross gaming revenue at crypto casinos (methodology and inference debated).<ref>{{cite news |last=Nilsson |first=Pamela |title=Crypto casinos are the fastest growing sector of online gambling |work=Financial Times |date=2025-02-27 |url=https://www.ft.com/content/1e28862c-058d-4f4a-9a5e-1ea2adff2b3f |access-date={{CURRENTMONTHNAME}} {{CURRENTDAY}}, {{CURRENTYEAR}}}}</ref> |- | Darknet-market revenue (global, all goods/services) | ~US$1.5 billion (2022) | Chainalysis estimate for annual darknet revenue after the Hydra takedown; provided for scale and historical context.<ref>{{cite web |title=Crypto Crime Trends for 2023: Darknet markets after Hydra |url=https://www.chainalysis.com/blog/crypto-crime-trends-2023/ |publisher=Chainalysis |date=2023-01-12 |access-date={{CURRENTMONTHNAME}} {{CURRENTDAY}}, {{CURRENTYEAR}}}}</ref><ref>{{cite web |title=U.S. Treasury Sanctions Russia-Based Hydra Market |url=https://home.treasury.gov/news/press-releases/jy0705 |publisher=U.S. Department of the Treasury |date=2022-04-05 |access-date={{CURRENTMONTHNAME}} {{CURRENTDAY}}, {{CURRENTYEAR}}}}</ref> |- | Illicit/high-risk funds obfuscated via cross-chain swaps/DEXs/bridges (proxy for laundering) | US$21.8 billion (cumulative since 2020; as of May 2025) | Elliptic estimates that >US$21.8 billion of illicit and "high-risk" crypto has been moved via DEXs, cross-chain bridges, and swap services; cumulative and may double-count multi-hop paths.<ref>{{cite web |title=Cross-chain money laundering reaches $22 billion |url=https://www.elliptic.co/blog/cross-chain-money-laundering-reaches-22-billion |website=Elliptic |publisher=Elliptic Enterprises Limited |date=17 July 2025 |access-date={{CURRENTMONTHNAME}} {{CURRENTDAY}}, {{CURRENTYEAR}} }}</ref> |}

==Methods== ===Fraud=== ==== Exit scams and Ponzi schemes through initial coin offerings (ICOs) ==== Most exit scams (or ''rugpulls'') as well as many ponzi schemes involving cryptocurrencies are performed through Initial Coin Offerings (ICOs).<ref>{{Cite book |last=Hou |first=Greg |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=83 |chapter=Cryptocurrency money laundering and exit scams: Cases, regulatory responses and issue}}</ref> As an example, according to a report by Satis Group, almost 80% of all projects launched through an ICO in 2017 were scams.<ref>{{cite report |date=11 July 2018 |title=Cryptoasset Market Coverage Initiation: Network Creation |url=https://research.bloomberg.com/pub/res/d28giW28tf6G7T_Wr77aU0gDgFQ |publisher=Satis Group |page=24 |access-date=15 February 2023 |archive-date=16 February 2023 |archive-url=https://web.archive.org/web/20230216090001/https://research.bloomberg.com/pub/res/d28giW28tf6G7T_Wr77aU0gDgFQ |url-status=live }} See {{Cite book |last=Nestarcova |first=Dominika |title=A Critical Appraisal of Initial Coin Offerings. Lifting the "Digital Token's Veil" |date=2019 |publisher=Brill |isbn=978-90-04-41657-4 |location=Leiden/Boston |pages=43}}</ref> These scams usually involve attracting investments from mostly retail investors, inflating the price and the perpetrators subsequently abandoning the project in question after selling off their own shares.<ref>This phenomenon is described in detail at the hand of several examples in {{Cite book |last=Hou |first=Greg |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=85–87 |chapter=Cryptocurrency money laundering and exit scams: Cases, regulatory responses and issue}} See also the sources cited there.</ref>

The novelty of ICOs accounts for the current lack of governmental regulation.<ref>{{Cite book |last=Nestarcova |first=Dominika |title=A Critical Appraisal of Initial Coin Offerings. Lifting the "Digital Token's Veil" |date=2019 |publisher=Brill |isbn=978-90-04-41657-4 |location=Leiden/Boston |pages=43 f}}</ref> This lack of regulatory measures as well as the pseudonymity of cryptocurrency transactions and their international nature across countless jurisdictions in many different countries can make it much more difficult to identify and take legal action against perpetrators involved in these scams.<ref>{{Cite book |last=Rao |first=Sandeep |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=80 |chapter=Mt. Gox – The fall of a giant}}</ref><ref>{{cite book |last=Nestarcova |first=Dominika |date=2019 |title=A Critical Appraisal of Initial Coin Offerings. Lifting the "Digital Token's Veil" |location=Leiden/Boston |publisher=Brill |pages=43 f |isbn=978-90-04-41657-4}} Cf. {{Cite web |last=Clayton |first=Jay |author-link=Jay Clayton (attorney) |date=11 December 2017 |title=Statement on Cryptocurrencies and Initial Coin Offerings |url=https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11 |access-date=15 February 2023 |publisher=U.S. Securities and Exchange Commission (SEC) |quote=Please also recognize that these markets span national borders and that significant trading may occur on systems and platforms outside the United States. Your invested funds may quickly travel overseas without your knowledge. As a result, risks can be amplified, including the risk that market regulators, such as the SEC, may not be able to effectively pursue bad actors or recover funds. |archive-date=31 January 2023 |archive-url=https://web.archive.org/web/20230131105924/https://www.sec.gov/news/public-statement/statement-clayton-2017-12-11 |url-status=live }}</ref> Since 2017 the SEC has been actively pursuing groups and individuals responsible for ICO-related scams.<ref>{{Cite book |last=Johnstone |first=Syren |title=Rethinking the Regulation of Cryptoassets. Cryptographic Consensus Technology and the New Prospect |date=2021 |publisher=Edward Elgar |isbn=9781800886780 |location=Cheltenham/Northampton |pages=61 f}}</ref>

==== Ponzi schemes ==== Ponzi schemes are another common form of utilizing blockchain-based technologies to commit fraud. Most schemes of this sort use multi-level marketing schemes to encourage investors to conduct risky investments.<ref>{{Cite book |last1=Mukherjee |first1=Sanmoy |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |last2=Larkin |first2=Charles |last3=Corbet |first3=Shaen |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=118 |chapter=Cryptocurrency Ponzi schemes}}</ref> Onecoin is one of the more notable examples of cryptocurrency-ponzi schemes: Founded in 2014 by Ruja Ignatova, OneCoin is estimated to have generated {{currency|4|USD}} billion in income.<ref name="De Gruyter"/> While at least in China some of the investors' funds have been recovered and several members of the organisation arrested in the U.S., Ignatova herself is still at large.<ref>See {{Cite book |last1=Mukherjee |first1=Sanmoy |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |last2=Larkin |first2=Charles |last3=Corbet |first3=Shaen |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=112 |chapter=Cryptocurrency Ponzi schemes}} as well as {{cite news |last=Bartlett |first=Jamie |date=24 November 2019 |title=Cryptoqueen: How this woman scammed the world, then vanished |url=https://www.bbc.com/news/stories-50435014 |work=BBC News |access-date=15 February 2023 |archive-date=21 December 2020 |archive-url=https://web.archive.org/web/20201221235010/https://www.bbc.com/news/stories-50435014 |url-status=live }}</ref> Quadriga was another cryptocurrency ponzi scheme--this time in Canada--which involved $190 million US dollars or $250 million Canadian dollars and was investigated by both the Royal Canadian Mounted Police and the Federal Bureau of Investigation after the death of its owner, Gerald William Cotten, in December 2018.<ref>Tara Deschamps [https://www.cbc.ca/news/business/osc-quadriga-gerald-cotten-1.5607990 Crypto exchange Quadriga was a fraud and founder was running Ponzi scheme, OSC report finds] June 11, 2020, CBC</ref><ref>{{Cite news |last=Ligaya |first=Armina |date=4 February 2019 |title=Canada's largest cryptocurrency exchange Quadriga seeks creditor protection |work=CTV News |publisher=BellMedia |url=https://www.ctvnews.ca/business/article/canadas-largest-cryptocurrency-exchange-quadriga-seeks-creditor-protection/ |url-status=live |access-date=5 February 2019 |archive-url=https://web.archive.org/web/20190205145700/https://www.ctvnews.ca/business/canada-s-largest-cryptocurrency-exchange-quadriga-seeks-creditor-protection-1.4282216 |archive-date=5 February 2019 |ref=CTV-Lig-Feb4}}</ref>

==== Money laundering ==== {{See also|Money laundering}} Due to the inability of third parties to de-pseudonymize crypto transactions criminal entities have often resorted to using cryptocurrency to conduct money laundering.<ref>{{Cite journal |last1=Albrecht |first1=Chad |last2=Duffin |first2=Kristopher McKay |last3=Hawkins |first3=Steven |last4=Rocha |first4=Victor Manuel Morales |date=2019 |title=The use of cryptocurrencies in the money laundering process |journal=Journal of Money Laundering Control |volume=22 |issue=2 |pages=213 |doi=10.1108/JMLC-12-2017-0074 |s2cid=159087019}}</ref> Especially ICOs lacking KYC guidelines and anti-money laundering procedures are often used to launder illicit funds due to the pseudonymity they offer.<ref name="nestarcova44">{{Cite book |last=Nestarcova |first=Dominika |title=A Critical Appraisal of Initial Coin Offerings. Lifting the "Digital Token's Veil" |date=2019 |publisher=Brill |isbn=978-90-04-41657-4 |location=Leiden/Boston |pages=44}}</ref> By using ICOs criminals launder these funds by buying tokens off of legitimate investors and selling them. This issue is intensified by the lack of measures against money laundering implemented by centralized cryptocurrency exchanges.<ref name="nestarcova44" />

A well-known early example of money laundering using cryptocurrencies is Silk Road. Shut down in 2013 with its founder Ross Ulbricht indicted for among other counts a money laundering conspiracy, the website was used for several illicit activities including money laundering solely using Bitcoin as a form of payment.<ref>{{Cite book |last1=Stabile |first1=Daniel T. |title=Digital Assets and Blockchain Technology. US Law and Regulation |last2=Prior |first2=Kimberly A. |last3=Hinkes |first3=Andrew M. |date=2020 |publisher=Edward Elgar Publishing |isbn=978-1-78990-743-8 |location=Cheltenham/Northampton |pages=299–301}}</ref>

Apart from traditional cryptocurrencies, Non-Fungible Tokens (NFTs) are also commonly used in connection with money laundering activities.<ref>{{Cite report |url=https://rusi.org/explore-our-research/publications/commentary/nfts-new-frontier-money-laundering |title=NFTs: A New Frontier for Money Laundering? |last1=Owen |first1=Allison |last2=Chase |first2=Isabella |date=December 2, 2021 |publisher=Royal United Services Institute |access-date=15 February 2023 |archive-date=16 January 2022 |archive-url=https://web.archive.org/web/20220116131322/https://rusi.org/explore-our-research/publications/commentary/nfts-new-frontier-money-laundering/ |url-status=live }}</ref> NFTs are often used to perform Wash Trading by creating several different wallets for one individual, generating several fictitious sales and consequently selling the respective NFT to a third party.<ref>{{Cite report |url=https://home.treasury.gov/system/files/136/Treasury_Study_WoA.pdf |title=Study of the Facilitation of Money Laundering and Terror Finance Through the Trade in Works of Art |publisher=United States Department of the Treasury |page=27 |access-date=15 February 2023 |year=2022 |archive-date=13 April 2022 |archive-url=https://web.archive.org/web/20220413071205/https://home.treasury.gov/system/files/136/Treasury_Study_WoA.pdf |url-status=live }}</ref> According to a report by Chainalysis, these types of wash trades are becoming increasingly popular among money launderers especially due to the largely anonymous nature of transactions on NFT marketplaces.<ref>{{Cite web |last=Quiroz-Gutierrez |first=Marco |date=February 4, 2022 |title=A handful of NFT users are making big money off of a stealth scam. Here's how 'wash trading' works |url=https://fortune.com/2022/02/04/nft-wash-trade-scam-millions/ |access-date=15 February 2023 |website=Fortune |archive-date=15 December 2022 |archive-url=https://web.archive.org/web/20221215090338/https://fortune.com/2022/02/04/nft-wash-trade-scam-millions/ |url-status=live }}</ref><ref>{{Cite web |date=February 2, 2022 |title=Crime and NFTs: Chainalysis Detects Significant Wash Trading and Some NFT Money Laundering In this Emerging Asset Class |url=https://blog.chainalysis.com/reports/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering/ |access-date=15 February 2023 |publisher=Chainalysis |archive-date=6 December 2022 |archive-url=https://web.archive.org/web/20221206010533/https://blog.chainalysis.com/reports/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering/ |url-status=live }}</ref> Auction platforms for NFT sales may face regulatory pressure to comply with anti-money laundering legislation.<ref>Cf. {{Cite report |url=https://home.treasury.gov/system/files/136/Treasury_Study_WoA.pdf |title=Study of the Facilitation of Money Laundering and Terror Finance Through the Trade in Works of Art |publisher=United States Department of the Treasury |page=26 |access-date=15 February 2023 |year=2022 |archive-date=13 April 2022 |archive-url=https://web.archive.org/web/20220413071205/https://home.treasury.gov/system/files/136/Treasury_Study_WoA.pdf |url-status=live }}</ref>

===== Regulatory measures ===== Canada is generally regarded as the first state actor implementing regulatory measures dealing with money laundering conducted by the usage of cryptocurrencies.<ref>{{Cite book |last=Johnstone |first=Syren |title=Rethinking the Regulation of Cryptoassets. Cryptographic Consensus Technology and the New Prospect |date=2021 |publisher=Edward Elgar |isbn=9781800886780 |location=Cheltenham/Northampton |pages=61}}</ref> By 2013 the Financial Crimes Enforcement Network (FinCEN) — in direct reference to the centralized exchange Mt. Gox — issued regulations making it clear that all crypto-to-fiat exchangers had to apply KYC- as well as anti-money laundering methods.<ref>{{Cite book |last=Dwyer |first=Gerald P. |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=201 f |chapter=Regulation of cryptocurrencies}}</ref> Any suspicious transactions have therefore to be reported to the authorities.<ref>{{Cite book |last=Dwyer |first=Gerald P. |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=202 |chapter=Regulation of cryptocurrencies}}</ref> Centralized exchanges have to register as money transmitters, with the exact definition of who and what constitutes a ''money transmitter'' in the crypto sphere being somewhat blurred and regulations differing between the different states of the U.S.<ref>{{Cite book |last=Dwyer |first=Gerald P. |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=202–204 |chapter=Regulation of cryptocurrencies}}</ref> An important exemption from these regulations is decentralized exchanges due to the fact that they do not hold any fiat currency.<ref>{{Cite book |last=Dwyer |first=Gerald P. |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=204 f |chapter=Regulation of cryptocurrencies}}</ref>

As part of the ''Fifth Anti-Money Laundering Directive'' of 2018 and in an effort to combat money laundering and the financing of terrorism, the European Union has issued a directive making all member-states have to make sure that crypto exchanges are licensed and registered.<ref>{{cite web | title=Directive - 2018/843 - EN - aml directive - EUR-Lex | url=https://eur-lex.europa.eu/eli/dir/2018/843/oj/eng }}</ref> The EU is furthermore planning to take measures to ensure that all customers of cryptocurrency exchanges are to verify their identity as part of the registration process.<ref name="schickleryahoo">{{Cite web |last=Schickler |first=Jack |date=September 2, 2022 |title=Money Laundering via Metaverse, DeFi, NFTs Targeted by EU Lawmakers' Latest Draft |work=Yahoo Finance |url=https://finance.yahoo.com/news/money-laundering-via-metaverse-defi-134732625.html |access-date=15 February 2023 |archive-date=15 December 2022 |archive-url=https://web.archive.org/web/20221215091828/https://finance.yahoo.com/news/money-laundering-via-metaverse-defi-134732625.html |url-status=live }}</ref>

====== Regarding NFTs ====== Auction platforms for NFT sales may face regulatory pressure to comply with anti-money laundering legislation. A February 2022 study from the United States Treasury assessed that there was "some evidence of money laundering risk in the high-value art market," including through "the emerging digital art market, such as the use of non-fungible tokens (NFTs)."<ref>{{Cite web |title=Treasury Releases Study on Illicit Finance in the High-Value Art Market |url=https://home.treasury.gov/news/press-releases/jy0588 |access-date=15 February 2023 |website=U.S. Department of the Treasury |language=en |archive-date=4 February 2022 |archive-url=https://web.archive.org/web/20220204234141/https://home.treasury.gov/news/press-releases/jy0588 |url-status=live }}</ref> The study considered how NFT transactions may be a simpler option for laundering money through art by avoiding transportation or insurance complications in trading physical art. Several NFT exchanges were labeled as virtual asset service providers that may be subject to Financial Crimes Enforcement Network regulations.<ref>{{Cite report |url=https://home.treasury.gov/system/files/136/Treasury_Study_WoA.pdf |title=Study of the Facilitation of Money Laundering and Terror Finance Through the Trade in Works of Art |publisher=United States Department of the Treasury |page=26 |access-date=15 February 2023 |year=2022 |archive-date=13 April 2022 |archive-url=https://web.archive.org/web/20220413071205/https://home.treasury.gov/system/files/136/Treasury_Study_WoA.pdf |url-status=live }}</ref>

The European Union has yet to establish specific regulations to combat money laundering through NFTs. The European Commission announced in July 2022 that it is planning to draw regulations regarding that issue by 2024.<ref>{{Cite web |last=Reiche |first=Matthias |date=July 12, 2022 |title=Umgang mit Bitcoin & Co. Wie die EU den Kryptomarkt reguliert |url=https://www.tagesschau.de/wirtschaft/finanzen/eu-kryptomarkt-101.html |access-date=15 February 2023 |language=German |archive-date=14 December 2022 |archive-url=https://web.archive.org/web/20221214152120/https://www.tagesschau.de/wirtschaft/finanzen/eu-kryptomarkt-101.html |url-status=live }}</ref><ref name="schickleryahoo" />

==== Giveaway scam ==== A cryptocurrency giveaway scam involves scammers compromising or impersonating celebrities, influencers, or well-known companies to falsely claim they are multiplying cryptocurrency or giving away free cryptocurrency via airdrop. A variety of methods are used to promote these scams, primarily through posts and livestreams on social media.

YouTube is a platform commonly used to promote this scam. Popular accounts are hacked to stream pre-recorded videos of the impersonated figure, overlaid with fake giveaway announcements that often encourage viewers to visit the scammer's website.<ref>{{Cite book |last=Vakilinia |first=Iman |chapter=Cryptocurrency Giveaway Scam with YouTube Live Stream |date=29 October 2022 |title=2022 IEEE 13th Annual Ubiquitous Computing, Electronics & Mobile Communication Conference (UEMCON) |pages=0195–0200 |doi=10.1109/UEMCON54665.2022.9965686 |isbn=978-1-6654-9299-7 }}</ref> In July 2020, Apple co-founder Steve Wozniak and 17 other victims filed a lawsuit against YouTube and its parent company, Google, alleging that the platform allowed scammers to use their name, image and likeness in cryptocurrency giveaway scams.<ref>{{Cite web |last=Chin |first=Monica |date=2020-07-23 |title=Steve Wozniak sues YouTube over ongoing bitcoin scams |url=https://www.theverge.com/2020/7/23/21335554/steve-wozniak-youtube-lawsuit-bitcoin-scam-cryptocurrency-apple |access-date=2025-07-18 |website=The Verge |language=en-US}}</ref> After earlier dismissals based on Section 230, a 2024 California Court of Appeal ruling allowed the case to proceed, finding that YouTube's role may fall outside those legal protections, with the case now pending further proceedings in the lower court.<ref>{{Cite web |date=2024-03-21 |title=Bitcoin Youtube Scam Around Steve Wozniak Sees Apple Co-Founder Win Legal Victory Against Google |url=https://www.ccn.com/news/crypto/steve-wozniak-bitcoin-youtube-scam-victory-against-google/ |access-date=2025-07-18 |website=CCN.com |language=en-US}}</ref>

In the 2020 Twitter account hijacking, 130 high-profile accounts, including those of multi-billionaire Elon Musk and then U.S. president Joe Biden, were used to promote a bitcoin giveaway scam. Within minutes of the initial tweets, more than 320 transactions had been sent to one of the wallet addresses, and over US$110,000 worth of bitcoin had been deposited before the scam messages were removed by Twitter.<ref>{{Cite news |date=Jul 15, 2020 |title=Biden, Obama, tech moguls' Twitter accounts hacked in apparent bitcoin scam |url=https://www.cbc.ca/news/world/twitter-hack-bitcoin-scam-1.5651296 |work=CBC News}}</ref> Coinbase blacklisted the bitcoin address and said they stopped over 1,000 transactions totaling over US$280,000 from being sent.<ref>{{Cite web |last=Kelly |first=Makena |date=2020-07-20 |title=Coinbase says it halted more than $280,000 in bitcoin transactions during Twitter hack |url=https://www.theverge.com/2020/7/20/21331499/coinbase-twitter-hack-elon-musk-bill-gates-joe-biden-bitcoin-scam |access-date=2025-07-18 |website=The Verge |language=en-US}}</ref>

==== Paper wallet generators ==== Paper wallet generators allow users to create a wallet address and corresponding private key. While not dubious in itself, fraudsters can create infected generators that secretly communicate the generated keys to the creator, giving them control of the wallet.<ref>{{Cite web |date=2023-07-27 |title=Redditor's hacked Bitcoin is a lesson on the hidden dangers of paper wallets |url=https://cointelegraph.com/news/redditor-gets-lesson-after-bitcoin-paper-wallet-hacked |access-date=2025-07-21 |website=Cointelegraph |language=en}}</ref>

In August 2017, a bad actor began advertising an online IOTA wallet seed generator. To gain the victim's trust, they linked to a legitimate GitHub repository, claiming that their website used the same code. In reality, the website used an intentionally predictable random number generator, resulting in the same IOTA wallet seeds being generated. Each of these seeds was logged.<ref>{{Cite web |title=iotaseed.io - How a Scammer stole more than $11m from IOTA Investors |url=https://iotaseed.io/iota-seed-generator-scam/ |access-date=2025-07-21 |website=IOTA Seed Generator |language=en}}</ref> On January 19, 2018, the attacker drained approximately US$3.94 million from wallets created during the six-month period. Profiles associated with the website on GitHub, Reddit, and Quora that had provided support to users were deleted, and the website was updated to display the message: "Taken down. Apologies."<ref>{{Cite web |title=IOTA Cryptocurrency Users Lose $4 Million in Clever Phishing Attack |url=https://www.bleepingcomputer.com/news/security/iota-cryptocurrency-users-lose-4-million-in-clever-phishing-attack/ |access-date=2025-07-21 |website=BleepingComputer |language=en-us}}</ref> In January 2019, Europol arrested a 36-year-old man from Oxford, England believed to be behind the attack.<ref>{{Cite web |title=Europol arrests UK man for stealing €10 million worth of IOTA cryptocurrency |url=https://www.zdnet.com/article/europol-arrests-uk-man-for-stealing-eur10-million-worth-of-iota-cryptocurrency/ |access-date=2025-07-21 |website=ZDNET |language=en}}</ref>

==== Pig butchering ==== {{Excerpt|Pig butchering scam}} ===Malware=== ====Malware attacks==== In February 2014, the Pony virus, which spread to between 100,000 and 200,000 computers through a botnet, was reported to have stolen up to US$220,000 in cryptocurrency from 85 wallets.<ref>{{Cite news |last=Zach Miners |date=24 February 2014 |title=Bitcoins, other digital currencies stolen in massive 'Pony' botnet attack |url=http://www.pcworld.com/article/2101260/bitcoins-other-digital-currencies-stolen-in-massive-pony-botnet-attack.html |url-status=live |archive-url=https://web.archive.org/web/20170702153029/http://www.pcworld.com/article/2101260/bitcoins-other-digital-currencies-stolen-in-massive-pony-botnet-attack.html |archive-date=2 July 2017 |access-date=8 January 2015}}</ref> Researchers later discovered updated versions with the ability to steal 30 types of cryptocurrencies.<ref>{{Cite news |last=Finkle |first=Jim |date=24 February 2014 |title='Pony' botnet steals bitcoins, digital currencies: Trustwave |url=https://www.reuters.com/article/us-bitcoin-security-idUSBREA1N1JO20140224 |url-status=live |archive-url=https://web.archive.org/web/20211023055704/https://www.reuters.com/article/us-bitcoin-security-idUSBREA1N1JO20140224 |archive-date=23 October 2021 |access-date=7 March 2014 |work=Reuters}}</ref>

A type of Mac malware active in August 2013, Bitvanity posed as a vanity wallet address generator and stole addresses and private keys from other bitcoin client software.<ref name="southurst2014">{{Cite news |date=26 February 2014 |title=Watch out! Mac malware spread disguised as cracked versions of Angry Birds, Pixelmator and other top apps |publisher=ESET |url=http://www.eset.com/int/about/press/articles/article/watch-out-mac-malware-spread-disguised-as-cracked-versions-of-angry-birds-pixelmator-and-other-top-apps/ |access-date=20 November 2015 |archive-date=12 April 2016 |archive-url=https://web.archive.org/web/20160412180102/http://www.eset.com/int/about/press/articles/article/watch-out-mac-malware-spread-disguised-as-cracked-versions-of-angry-birds-pixelmator-and-other-top-apps/ |url-status=dead }}</ref> A different trojan for macOS, called CoinThief was reported in February 2014 to be responsible for multiple bitcoin thefts.<ref name="southurst2014" /> The software was hidden in versions of some cryptocurrency apps on Download.com and MacUpdate.<ref name="southurst2014" />

==== Stealers and drainers ==== A stealer, also known as a drainer or infostealer, is a type of malware designed to steal private information including private keys from cryptocurrency wallets, enabling attackers to access and transfer the funds to their wallet. The most common infections scan computers for wallet files and upload them to a remote server, where they can be cracked.<ref>{{Cite book |last=Scharfman |first=Jason |chapter=Wallet Drainers, Crypto Stealers and Cryptojacking |date=2024 |title=The Cryptocurrency and Digital Asset Fraud Casebook, Volume II: DeFi, NFTs, DAOs, Meme Coins, and Other Digital Asset Hacks |pages=271–306 |editor-last=Scharfman |editor-first=Jason |chapter-url=https://doi.org/10.1007/978-3-031-60836-0_10 |access-date=2025-07-19 |place=Cham |publisher=Springer Nature Switzerland |language=en |doi=10.1007/978-3-031-60836-0_10 |isbn=978-3-031-60836-0|chapter-url-access=subscription }}</ref> Many stealers also incorporate keyloggers to record keystrokes, often bypassing the need to crack the keys.<ref>{{Cite web |author=Microsoft Threat Intelligence |date=2022-05-17 |title=In hot pursuit of 'cryware': Defending hot wallets from attacks |url=https://www.microsoft.com/en-us/security/blog/2022/05/17/in-hot-pursuit-of-cryware-defending-hot-wallets-from-attacks/ |access-date=2025-07-19 |website=Microsoft Security Blog |language=en-US}}</ref>

==== Clipboard hijacking ==== Clipboard hijacking involves a malware that detects when a cryptocurrency address is copied to the clipboard, and quickly replacing it to trick victims into sending their cryptocurrency to the attackers address. The method is effective due to the difficulty of memorizing or manually typing wallet addresses, combined with the irreversible nature of cryptocurrency transactions.<ref>{{Cite web |title=Clipboard hacking {{!}} MetaMask Help Center |url=https://support.metamask.io/stay-safe/protect-yourself/wallet-and-hardware/clipboard-hacking/ |access-date=2025-07-19 |website=support.metamask.io |language=en}}</ref>

==== Ransomware ==== Cryptocurrency is considered to be the "near-universal form of payment" for ransomware,<ref>{{Cite journal |title=Use of Cryptocurrency in Ransomware Attacks, Available Data, and National Security Concerns |url=https://www.hsgac.senate.gov/wp-content/uploads/imo/media/doc/HSGAC%20Majority%20Cryptocurrency%20Ransomware%20Report_Executive%20Summary.pdf |journal=United States Senate Committee on Homeland Security & Governmental Affairs |pages=2}}</ref> a type of malware that encrypts a victim's data until a ransom is paid. Ransomware attacks are estimated to have generated US$1.1 billion in 2019, US$999 million in 2020, a record US$1.25 billion in 2023, and US$813 million in 2024.<ref name="Milmo-2025" /> In 2024, a record breaking US$75 million ransom was paid to the Dark Angels ransomware group by an undisclosed Fortune 500 company.<ref>{{Cite web |date=2024-12-05 |title=Roundup: The top ransomware stories of 2024 {{!}} IBM |url=https://www.ibm.com/think/insights/roundup-the-top-ransomware-stories-of-2024 |access-date=2025-07-19 |website=www.ibm.com |language=en}}</ref>

==== Cryptojacking ==== {{excerpt|Cryptojacking}}

===Off-chain=== ====Violent crime==== Some mainstream news outlets have described cases in which kidnappers have targeted cryptocurrency holders in order to compel them to turn over access to their digital wallets. According to reporting citing data from blockchain analysis firm Chainalysis, more than 30 such incidents were recorded in 2025, though the firm noted that many crimes may go unreported. One widely reported case involved a cryptocurrency investor who escaped from an apartment in Manhattan after allegedly being held captive for weeks, during which he was beaten and threatened with death in an attempt to force the transfer of digital assets.<ref>{{cite news |last=Morrow |first=Allison |title=Crypto slump may point to a cultural problem |url=https://www.cnn.com/2025/12/18/business/crypto-bitcoin-slump-nightcap |work=CNN |date=December 18, 2025 |access-date=December 20, 2025 }}</ref><ref> {{cite news |last=Suderman |first=Alan |title=Why 'wrench attacks' on wealthy crypto holders are on the rise |url=https://apnews.com/article/crypto-bitcoin-kidnapping-wrench-attack-ddc7263c25ba590f85648e1682576971 |work=Associated Press |date=May 28, 2025 |access-date=December 20, 2025 }} </ref>

====Energy Theft==== Electricity theft associated with proof-of-work cryptocurrency mining has been reported in multiple countries, with operators illegally bypassing or tampering with meters and power lines to reduce operating costs. In Malaysia, Reuters reported that the national utility Tenaga Nasional Bhd estimated electricity losses of about 4.6 billion ringgit (US$1.11 billion) from power theft linked to illegal cryptocurrency mining between 2020 and August 2025, citing a parliamentary reply from the energy ministry.<ref>{{cite news |title=Malaysia's Tenaga Nasional incurs losses of more than $1 billion from crypto power theft |url=https://www.reuters.com/sustainability/boards-policy-regulation/malaysias-tenaga-nasional-incurs-losses-more-than-1-billion-crypto-power-theft-2025-11-19/ |work=Reuters |date=November 19, 2025 |access-date=December 20, 2025 }}</ref>

=== Fraud factories === Fraud factories in Asia traffic workers to scam Westerners into buying cryptocurrencies online.<ref>{{Cite news |date=2022-11-26 |title=The Kenyans lured to become unwitting 'love' fraudsters |language=en-GB |work=BBC News |url=https://www.bbc.com/news/world-africa-63654637 |access-date=2022-11-26 |archive-date=2022-11-26 |archive-url=https://web.archive.org/web/20221126003608/https://www.bbc.com/news/world-africa-63654637 |url-status=live }}</ref>

== Law-enforcement use == Law-enforcement agencies and financial-intelligence units report using public-blockchain records to trace illicit flows, identify counterparties at service providers, and recover assets through seizure and forfeiture.<ref>{{cite press release |title=United States Files Civil Forfeiture Complaint Against $225M in Funds Involved in Cryptocurrency Investment Scams |publisher=U.S. Department of Justice |date=18 June 2025 |url=https://www.justice.gov/opa/pr/united-states-files-civil-forfeiture-complaint-against-225m-funds-involved-cryptocurrency}}</ref><ref name="IOCTA2024" /> In recent operations, tracing supported large seizures linked to investment-fraud schemes; seized assets are typically managed and disposed of by custodial authorities such as the U.S. Marshals Service.<ref>{{cite press release |title=Largest Ever Seizure of Funds Related to Crypto Confidence Scams |publisher=USAO-DC/DOJ |date=18 June 2025 |url=https://www.justice.gov/usao-dc/pr/largest-ever-seizure-funds-related-crypto-confidence-scams}}</ref><ref>{{cite report |title=Asset Forfeiture Program: FY2023 At-a-Glance |publisher=U.S. Marshals Service |date=2023 |url=https://www.usmarshals.gov/sites/default/files/media/document/2024-Asset-Forfeiture.pdf}}</ref> Regulators and standard-setters note that FATF Recommendation 15 and related guidance shape cooperation with virtual-asset service providers, while also acknowledging barriers from privacy-enhancing techniques such as mixers and privacy coins.<ref name="FATF2024" /><ref>{{cite report |title=IOCTA 2024 (PDF) |publisher=Europol |date=2024 |url=https://www.europol.europa.eu/cms/sites/default/files/documents/IOCTA%202024%20-%20EN_0.pdf}}</ref> U.S. oversight bodies have likewise highlighted both the promise of on-chain transparency and persistent challenges in sanctions and AML enforcement.<ref>{{cite report |title=Economic Sanctions: Agency Efforts Help Mitigate Some of the Challenges of Emerging Risks |publisher=U.S. Government Accountability Office |date=13 December 2023 |url=https://www.gao.gov/products/gao-24-106178}}</ref>

== Notable cases == In 2018, around US$1.7 billion in cryptocurrency was lost to scams, theft and fraud. In the first quarter of 2019, such losses rose to US$1.2 billion.<ref>{{Cite web |last=Chavez-Dreyfuss |first=Gertrude |date=30 April 2019 |title=Cryptocurrency thefts, fraud hit $1.2 billion in first quarter: report |url=https://www.reuters.com/article/us-crypto-currency-fraud/cryptocurrency-thefts-fraud-hit-1-2-billion-in-first-quarter-report-idUSKCN1S62P3 |access-date=8 June 2019 |website=Reuters |archive-date=30 July 2019 |archive-url=https://web.archive.org/web/20190730092755/https://www.reuters.com/article/us-crypto-currency-fraud/cryptocurrency-thefts-fraud-hit-1-2-billion-in-first-quarter-report-idUSKCN1S62P3 |url-status=live }} Original reports: {{Cite web|url=https://ciphertrace.com/crypto-aml-report-2018q4/|title=Cryptocurrency Anti-Money Laundering Report – Q4 2018|last=Schlabach|first=Adam|date=2019-01-29|website=CipherTrace|language=en-US|access-date=2019-06-08|archive-date=2019-05-28|archive-url=https://web.archive.org/web/20190528171452/https://ciphertrace.com/crypto-aml-report-2018q4/|url-status=live}}, {{Cite web|url=https://ciphertrace.com/articles/q1-2019-cryptocurrency-anti-money-laundering-report/|title=Q1 2019 Cryptocurrency Anti-Money Laundering Report|last=Schlabach|first=Adam|date=2019-05-01|website=CipherTrace|language=en-US|access-date=2019-06-08|archive-date=2021-11-27|archive-url=https://web.archive.org/web/20211127101851/https://www.reuters.com/article/us-crypto-currency-fraud/cryptocurrency-thefts-fraud-hit-1-2-billion-in-first-quarter-report-idUSKCN1S62P3|url-status=live}}</ref> 2022 was a record year for cryptocurrency theft, according to Chainalysis, with {{USD|3.8 billion}}<ref name="Lyngaas-2023">{{Cite web |last=Lyngaas |first=Sean |date=2023-04-09 |title=Inside the international sting operation to catch North Korean crypto hackers {{!}} CNN Politics |url=https://www.cnn.com/2023/04/09/politics/north-korean-crypto-hackers-crackdown/index.html |access-date=2023-04-21 |website=CNN |language=en |archive-date=2023-04-21 |archive-url=https://web.archive.org/web/20230421031458/https://www.cnn.com/2023/04/09/politics/north-korean-crypto-hackers-crackdown/index.html/ |url-status=live }}</ref> stolen worldwide during 125 system hacks,<ref name="Forbes">Bambysheva, Nina; Santillana Linares, Maria Gracia: [https://www.forbes.com/sites/ninabambysheva/2022/12/28/over-3-billion-stolen-in-crypto-heists-here-are-the-eight-biggest/?sh=542777db699f "Over $3 Billion Stolen In Crypto Heists: Here Are The Eight Biggest"] {{Webarchive|url=https://web.archive.org/web/20230107194850/https://www.forbes.com/sites/ninabambysheva/2022/12/28/over-3-billion-stolen-in-crypto-heists-here-are-the-eight-biggest/?sh=542777db699f |date=2023-01-07 }} Forbes; December 28, 2022. Retrieved January 7, 2023.</ref> including {{USD|1.7 billion}} stolen by "North Korea-linked hackers".<ref name="Lyngaas-2023" />

=== ICO-related scams === * AriseCoin (AriseBank): ''AriseBank'' marketed itself as the world's first ''decentralized bank'', falsely claiming to be able to offer FDIC-insured accounts, VISA cards as well as services related to cryptocurrency and making other false statements.<ref>See {{Cite book |last=Girasa |first=Rosario |title=Regulation of Cryptocurrencies and Blockchain Technologies. National and International Perspectives |date=2018 |publisher=Palgrave |isbn=978-3-319-78508-0 |location=Pleasantville |pages=156 f}}</ref> ''AriseBank'' promoted its ''AriseCoin'' through celebrity endorsement and social media in order to raise the {{currency|1|USD}} billion the company was aiming for.<ref name="nestarcova44"/> Their ICO was halted by the SEC in early 2018 with their CEO and COO receiving a fine of {{currency|2.7|USD}} million.<ref>{{Cite book |last1=Conlon |first1=Thomas |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |last2=McGee |first2=Richard J. |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=47 |chapter=ICO fraud and regulation}} Cf. {{Cite web |last=<!--Not stated--> |date=30 January 2018 |title=SEC Halts Alleged Initial Coin Offering Scam |url=https://www.sec.gov/news/press-release/2018-8 |access-date=15 February 2023 |publisher=U.S. Securities and Exchange Commission (SEC) |archive-date=10 March 2023 |archive-url=https://web.archive.org/web/20230310081000/https://www.sec.gov/news/press-release/2018-8 |url-status=live }}</ref> * BitConnect: Bitconnect was among the highest-performing cryptocurrencies in 2017, promising investors enormous returns through a trading bot.<ref name="De Gruyter">{{Cite book |last1=Conlon |first1=Thomas |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |last2=McGee |first2=Richard J. |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=46 |chapter=ICO fraud and regulation}}</ref> At its height, it reached a market capitalization of {{currency|3.4|USD}} billion.<ref>{{Cite book |last=Girasa |first=Rosario |title=Regulation of Cryptocurrencies and Blockchain Technologies. National and International Perspectives |date=2022 |publisher=Palgrave |isbn=978-3-319-78508-0 |location=Pleasantville |pages=184 |chapter=Criminal Prosecutions and Civil Litigation Concerning Blockchain Technologies |doi=10.1007/978-3-319-78509-7}}</ref> In early 2018 the exchanged ceased to operate with investors losing millions of dollars, amounting to a total of {{currency|14.5|USD}} million.<ref name="hou86">{{Cite book |last=Hou |first=Greg |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=86 |chapter=Cryptocurrency money laundering and exit scams: Cases, regulatory responses and issue}}</ref> It later turned out that the initial profits were generated through a Ponzi scheme by paying earlier customers with money made through newer customers.<ref>{{Cite book |last=Girasa |first=Rosario |title=Regulation of Cryptocurrencies and Blockchain Technologies. National and International Perspectives |date=2022 |publisher=Palgrave |isbn=978-3-319-78508-0 |location=Pleasantville |pages=185 |chapter=Criminal Prosecutions and Civil Litigation Concerning Blockchain Technologies |doi=10.1007/978-3-319-78509-7}}</ref> Legal action against the perpetrators was taken on an international scale.<ref>See {{Cite book |last1=Conlon |first1=Thomas |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |last2=McGee |first2=Richard J. |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=46 |chapter=ICO fraud and regulation}} Cf. {{cite news |last=Michaels |first=Dave |date=1 September 2021 |title=SEC Sues BitConnect and Founder, Alleging Massive Cryptocurrency Scam of World-Wide Investors |url=https://www.wsj.com/articles/sec-sues-bitconnect-and-founder-alleging-massive-cryptocurrency-scam-of-world-wide-investors-11630535853 |work=The Wall Street Journal |access-date=15 February 2023 |archive-date=6 March 2023 |archive-url=https://web.archive.org/web/20230306215912/https://www.wsj.com/articles/sec-sues-bitconnect-and-founder-alleging-massive-cryptocurrency-scam-of-world-wide-investors-11630535853 |url-status=live }}</ref> * Centra: Centra was a Miami-based company that claimed to offer a cryptocurrency-based debit card backed by a VISA and Mastercard. The company raised {{currency|32|USD}} million by October 2017 through an ICO and, f few months later, performed an exit scam. In April 2018 two of the founders were arrested. It was soon revealed that neither Mastercard nor VISA backed the company in their alleged efforts.<ref name="hou86" /> * Modern Tech (PinCoin/iFan): Based in Vietnam, Modern Tech hosted two separate ICOs for ''PinCoin'' as well as ''iFan'' promising monthly returns of 48%.<ref name="hou86"/> After the initial success, the founders ran off with approximately {{currency|660|USD}} million raised from 32,000 investors.<ref>{{Cite book |last=Nestarcova |first=Dominika |title=A Critical Appraisal of Initial Coin Offerings. Lifting the "Digital Token's Veil" |date=2019 |publisher=Brill |isbn=978-90-04-41657-4 |location=Leiden/Boston |pages=43}}</ref> The founders are still at large and none of the funds have been retrieved.<ref>{{Cite book |last1=Conlon |first1=Thomas |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |last2=McGee |first2=Richard J. |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=45 f |chapter=ICO fraud and regulation}}</ref> * PlexCoin: After Dominic Lacroix and Sabrina Paradis-Rogers (the founders of ''PlexCoin'') had officially raised around {{currency|15|USD}} million through a fraudulent ICO in August 2017 while promising a return of 1,354 % within a month, the SEC filed a civil complaint in December of the same year against them and sought an injunction to cease those sales, freeze the assets involved, pay civil penalties and prohibit the ones responsible behind the token launch from participating in any future offerings of cryptocurrency.<ref>{{Cite book |last=Girasa |first=Rosario |title=Regulation of Cryptocurrencies and Blockchain Technologies. National and International Perspectives |date=2022 |publisher=Palgrave |isbn=978-3-319-78508-0 |location=Pleasantville |pages=212 |chapter=Criminal Prosecutions and Civil Litigation Concerning Blockchain Technologies |doi=10.1007/978-3-319-78509-7}} Cf. {{Cite web |last=<!--Not stated--> |title=SEC v. PlexCorps, Dominic LaCroix, and Sabrina Paradis-Royer Case No. 17-cv-7007 (CBA) (RML) (E.D.N.Y.) |url=https://www.sec.gov/enforcement/information-for-harmed-investors/plexcorps |access-date=15 February 2023 |publisher=U.S. Securities and Exchange Commission (SEC) |archive-date=10 February 2023 |archive-url=https://web.archive.org/web/20230210095234/https://www.sec.gov/enforcement/information-for-harmed-investors/plexcorps |url-status=live }}</ref> Shortly after Lacroix was sentenced to two months in prison and fined {{currency|110,000|CAD}} by the Quebec Superior Court.<ref>{{Cite book |last=Girasa |first=Rosario |title=Regulation of Cryptocurrencies and Blockchain Technologies. National and International Perspectives |date=2022 |publisher=Palgrave |isbn=978-3-319-78508-0 |location=Pleasantville |pages=212 |chapter=Criminal Prosecutions and Civil Litigation Concerning Blockchain Technologies |doi=10.1007/978-3-319-78509-7}}</ref> The SEC's proceedings led to seven-figure fines for the defendants in 2019 and a retrieval of the investors' funds.<ref>{{Cite book |last=Girasa |first=Rosario |title=Regulation of Cryptocurrencies and Blockchain Technologies. National and International Perspectives |date=2022 |publisher=Palgrave |isbn=978-3-319-78508-0 |location=Pleasantville |pages=213 |chapter=Criminal Prosecutions and Civil Litigation Concerning Blockchain Technologies |doi=10.1007/978-3-319-78509-7}}</ref> During the proceedings, the SEC was able to prove that the success of the ICO was inflated by the founders who in fact had raised {{currency|8.5|USD}} million instead of the {{currency|15|USD}} million they had announced.<ref>{{Cite book |last1=Conlon |first1=Thomas |title=Understanding Cryptocurrency Fraud. The challenges and headwinds to regulate digital currencies |last2=McGee |first2=Richard J. |date=2022 |publisher=De Gruyter |isbn=978-3-11-071688-7 |editor-last=Corbet |editor-first=Shaen |location=Boston/Berlin |pages=47 |chapter=ICO fraud and regulation}}</ref>

=== Exchanges === Notable cryptocurrency exchange compromises resulting in the loss of cryptocurrencies include: * Between 2011 and 2014, {{USD|350 million}} worth of bitcoin was stolen from Mt. Gox.<ref name="zdnet">{{Cite web |last=Whittaker |first=Zack |date=5 January 2015 |title=Bitstamp exchange hacked, $5M worth of bitcoin stolen |url=https://www.zdnet.com/article/bitstamp-bitcoin-exchange-suspended-amid-hack-concerns-heres-what-we-know/ |access-date=6 January 2015 |website=Zdnet |publisher=CBS Interactive. |archive-date=16 October 2016 |archive-url=https://web.archive.org/web/20161016122825/http://www.zdnet.com/article/bitstamp-bitcoin-exchange-suspended-amid-hack-concerns-heres-what-we-know/ |url-status=live }}</ref> * In 2016, {{USD|72 million}} was stolen through exploiting Bitfinex's exchange wallet, users were refunded.<ref>{{Cite web |title=Bitcoin Worth $72M Was Stolen in Bitfinex Exchange Hack in Hong Kong |url=http://fortune.com/2016/08/03/bitcoin-stolen-bitfinex-hack-hong-kong/ |url-status=live |archive-url=https://web.archive.org/web/20161120085013/http://fortune.com/2016/08/03/bitcoin-stolen-bitfinex-hack-hong-kong/ |archive-date=November 20, 2016 |access-date=October 26, 2016 |website=Fortune}}</ref> * On December 7, 2017, Slovenian cryptocurrency exchange NiceHash reported that hackers had stolen over $70 million using a hijacked company computer.<ref>{{Cite web |last=Iyengar |first=Rishi |date=2017-12-07 |title=More than $70 million stolen in bitcoin hack |url=https://money.cnn.com/2017/12/07/technology/nicehash-bitcoin-theft-hacking/index.html |access-date=2022-03-02 |website=CNNMoney |archive-date=2022-09-20 |archive-url=https://web.archive.org/web/20220920091520/https://money.cnn.com/2017/12/07/technology/nicehash-bitcoin-theft-hacking/index.html |url-status=dead }}</ref><ref>{{Cite web |last=Browne |first=Ryan |date=2017-12-07 |title=More than $60 million worth of bitcoin potentially stolen after hack on cryptocurrency site |url=https://www.cnbc.com/2017/12/07/bitcoin-stolen-in-hack-on-nicehash-cryptocurrency-mining-marketplace.html |access-date=2022-03-03 |website=CNBC |language=en |archive-date=2017-12-12 |archive-url=https://web.archive.org/web/20171212031526/https://www.cnbc.com/2017/12/07/bitcoin-stolen-in-hack-on-nicehash-cryptocurrency-mining-marketplace.html |url-status=live }}</ref> * On December 19, 2017, Yapian, the owner of South Korean exchange Youbit, filed for bankruptcy after suffering two hacks that year.<ref>{{Cite web |last=Haselton |first=Todd |date=2017-12-19 |title=A South Korean cryptocurrency exchange files for bankruptcy after hack, says users will get 75% of assets for now |url=https://www.cnbc.com/2017/12/19/yapian-youbit-exchange-files-bankruptcy.html |access-date=2022-03-02 |website=CNBC |language=en |archive-date=2022-09-06 |archive-url=https://web.archive.org/web/20220906124744/https://www.cnbc.com/2017/12/19/yapian-youbit-exchange-files-bankruptcy.html |url-status=live }}</ref><ref>{{Cite news |date=2017-12-19 |title=South Korean cryptocurrency exchange to file for bankruptcy after hacking |language=en |work=Reuters |url=https://www.reuters.com/article/us-bitcoin-exchange-southkorea-idUSKBN1ED0NJ |access-date=2022-03-02 |archive-date=2022-05-28 |archive-url=https://web.archive.org/web/20220528053057/https://www.reuters.com/article/us-bitcoin-exchange-southkorea-idUSKBN1ED0NJ |url-status=live }}</ref> Customers were still granted access to 75% of their assets.<ref>{{cite news |url=https://www.bbc.com/news/technology-42409815 |publisher=BBC |date=19 December 2017 |title=Bitcoin exchange Youbit shuts after second hack attack |access-date=6 May 2024 |archive-date=6 May 2024 |archive-url=https://web.archive.org/web/20240506164410/https://www.bbc.com/news/technology-42409815 |url-status=live }}</ref> * In 2018, cryptocurrencies worth {{USD|400 million}} were stolen from Coincheck.<ref name="Bloomberg L.P.-2018">{{Cite news |date=January 26, 2018 |title=Coincheck Says It Lost Crypto Coins Valued at About $400 Million |work=Bloomberg L.P. |url=https://www.bloomberg.com/news/articles/2018-01-26/cryptocurrencies-drop-after-japanese-exchange-halts-withdrawals |access-date=2018-01-27 |archive-date=2022-08-23 |archive-url=https://web.archive.org/web/20220823105444/https://www.bloomberg.com/news/articles/2018-01-26/cryptocurrencies-drop-after-japanese-exchange-halts-withdrawals |url-status=live }}</ref> * In May 2018, Bitcoin Gold had its transactions hijacked and abused by unknown hackers.<ref>{{Cite web |last=Cimpanu |first=Catalin |date=4 September 2018 |title=Bitcoin Gold delisted from major cryptocurrency exchange after refusing to pay hack damages |url=https://www.zdnet.com/article/bitcoin-gold-delisted-from-major-cryptocurrency-exchange-after-refusing-to-pay-hack-damages/ |website=ZDNet |language=en |access-date=3 March 2022 |archive-date=24 May 2022 |archive-url=https://web.archive.org/web/20220524122220/https://www.zdnet.com/article/bitcoin-gold-delisted-from-major-cryptocurrency-exchange-after-refusing-to-pay-hack-damages/ |url-status=live }}</ref> Exchanges lost an estimated $18 m and Bitcoin Gold was delisted from Bittrex after it refused to pay its share of the damages. * In June 2018, South Korean exchange Coinrail was hacked, losing over $37M worth of crypto.<ref>{{Cite web |last=Shane |first=Daniel |date=2018-06-11 |title=Billions in cryptocurrency wealth wiped out after hack |url=https://money.cnn.com/2018/06/11/investing/coinrail-hack-bitcoin-exchange/index.html |access-date=2022-03-02 |website=CNNMoney |archive-date=2018-07-11 |archive-url=https://web.archive.org/web/20180711032051/https://money.cnn.com/2018/06/11/investing/coinrail-hack-bitcoin-exchange/index.html |url-status=dead }}</ref> The hack worsened an already ongoing cryptocurrency selloff by an additional $42 billion.<ref>{{Citation |last=Lam |first=Eric |last2=Lee |first2=Jiyeun |last3=Robertson |first3=Jordan |title=Cryptocurrencies Lose $42 Billion After South Korean Bourse Hack |date=10 June 2018 |url=https://www.bloomberg.com/news/articles/2018-06-10/bitcoin-tumbles-most-in-two-weeks-amid-south-korea-exchange-hack |archive-url=https://web.archive.org/web/20180612005144/https://www.bloomberg.com/news/articles/2018-06-10/bitcoin-tumbles-most-in-two-weeks-amid-south-korea-exchange-hack |publisher=Bloomberg News |access-date=12 June 2018 |archive-date=12 June 2018 |url-status=live}}</ref> * On July 9, 2018, the exchange Bancor, whose code and fundraising had been subjects of controversy, had $23.5 million in cryptocurrency stolen.<ref name="Bancorhack">{{Cite news |last=Roberts |first=Jeff John |date=9 July 2018 |title=Another Crypto Fail: Hackers Steal $23.5 Million from Token Service Bancor |work=Fortune |url=http://fortune.com/2018/07/09/bancor-hack/ |url-status=live |access-date=10 July 2018 |archive-url=https://web.archive.org/web/20180710013104/http://fortune.com/2018/07/09/bancor-hack/ |archive-date=10 July 2018}}</ref><ref>{{Cite web |last=Young |first=Joseph |date=2017-06-24 |title=Cornell Professor: $150 Million Bancor is Flawed |url=https://www.ccn.com/cornell-professor-150-million-bancor-flawed/ |access-date=2022-03-02 |website=CCN.com |language=en-US |archive-date=2022-03-02 |archive-url=https://web.archive.org/web/20220302134252/https://www.ccn.com/cornell-professor-150-million-bancor-flawed/ |url-status=live }}</ref> * Zaif {{USD|60 million}} in Bitcoin, Bitcoin Cash and Monacoin was stolen in September 2018<ref>{{Cite news |last=Reidy |first=Gearoid |date=2018-09-19 |title=Hackers Steal $60 Million From Japanese Crypto Exchange Zaif |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2018-09-19/tech-bureau-says-6-7b-yen-in-cryptocurrency-lost-in-zaif-hack |access-date=2018-09-20 |archive-date=2021-05-26 |archive-url=https://web.archive.org/web/20210526040323/https://www.bloomberg.com/news/articles/2018-09-19/tech-bureau-says-6-7b-yen-in-cryptocurrency-lost-in-zaif-hack |url-status=live }}</ref> * Binance In 2019 cryptocurrencies worth {{USD|40 million}} were stolen.<ref name="Bloomberg L.P.-2018" /><ref>{{Cite magazine |title=Hackers Stole $40 Million from Binance Crypto Exchange |url=https://www.wired.com/story/hack-binance-cryptocurrency-exchange/ |magazine=Wired |access-date=2019-05-08 |archive-date=2022-10-12 |archive-url=https://web.archive.org/web/20221012140114/https://www.wired.com/story/hack-binance-cryptocurrency-exchange/ |url-status=live }}</ref> * Africrypt founders are suspected of absconding in June 2021 with US$3.6 billion worth of Bitcoin<ref>{{Cite web |title=South African brothers disappear along with $3.6 billion in Bitcoin |url=https://fortune.com/2021/06/24/bitcoin-ameer-raees-cajee-theft-south-africa/ |access-date=2021-08-31 |website=Fortune |language=en |archive-date=2021-11-29 |archive-url=https://web.archive.org/web/20211129124602/https://fortune.com/2021/06/24/bitcoin-ameer-raees-cajee-theft-south-africa/ |url-status=dead }}</ref> * PolyNetwork (DeFi) suffered a loss of US$611 million in a theft in August 2021.<ref>{{Cite web |last=Sullivan |first=Arthur |date=2021-08-11 |title=Hackers steal $600 million in record-breaking cryptocurrency heist |url=https://www.dw.com/en/hackers-steal-600-million-in-record-breaking-cryptocurrency-heist/a-58828959 |access-date=2021-08-31 |website=DW.COM |language=en-GB |archive-date=2022-03-08 |archive-url=https://web.archive.org/web/20220308204124/https://www.dw.com/en/hackers-steal-600-million-in-record-breaking-cryptocurrency-heist/a-58828959 |url-status=live }}</ref> * Japanese cryptocurrency exchange Liquid was compromised in August 2021 resulting in a loss of US$97 million worth of digital coins<ref>{{Cite web |last=Browne |first=Ryan |date=2021-08-19 |title=More than $90 million in cryptocurrency stolen after a top Japanese exchange is hacked |url=https://www.cnbc.com/2021/08/19/liquid-cryptocurrency-exchange-hack.html |access-date=2021-08-31 |website=CNBC |language=en |archive-date=2022-08-26 |archive-url=https://web.archive.org/web/20220826083445/https://www.cnbc.com/2021/08/19/liquid-cryptocurrency-exchange-hack.html |url-status=live }}</ref> * Cream Finance was subject to a US$29 million theft in August 2021<ref>{{Cite web |date=2021-08-30 |title=Hackers steal $29 million from crypto-platform Cream Finance |url=https://therecord.media/hackers-steal-29-million-from-crypto-platform-cream-finance/ |access-date=2021-08-31 |website=The Record by Recorded Future |language=en |archive-date=2022-05-31 |archive-url=https://web.archive.org/web/20220531021620/https://therecord.media/hackers-steal-29-million-from-crypto-platform-cream-finance/ |url-status=live }}</ref> and $130 million on October 28, 2021.<ref>{{Cite magazine |last=Ongweso Jr. |first=Edward |title=Cryptocurrency Loan Platform Implodes In $130 Million Hack |url=https://www.vice.com/en/article/cryptocurrency-loan-platform-implodes-in-dollar130-million-hack/ |magazine=Vice |access-date=2022-12-20 |archive-date=2022-12-20 |archive-url=https://web.archive.org/web/20221220194238/https://www.vice.com/en/article/m7vjjy/cryptocurrency-loan-platform-implodes-in-dollar130-million-hack |url-status=live }}</ref> * On December 2, 2021, users of the BadgerDAO DeFi lost around $118,500,000 worth of bitcoin and $679,000 worth of ethereum tokens in a front-end attack. A compromised API key of the Cloudflare content delivery network account allowed the injecting of a malicious script into the web interface. BadgerDAO "paused" all smart contracts due to user complaints.<ref>{{Cite web |date=2022-03-23 |title=Hackers Steal $119M From 'Web3' Crypto Project With Old School Attack |url=https://www.vice.com/en/article/hackers-steal-dollar119m-from-web3-crypto-project-with-old-school-attack/ |access-date=2021-12-09 |website=The Verge |language=en |archive-date=2022-10-08 |archive-url=https://web.archive.org/web/20221008231722/https://www.vice.com/en/article/pkpp4n/hackers-steal-dollar119m-from-web3-crypto-project-with-old-school-attack |url-status=live }}</ref> * On December 6, 2021, the cryptocurrency exchange Bitmart lost around $135M worth of Ethereum and an estimated $46 million in other cryptocurrencies due to a breach of two of its wallets.<ref>{{Cite web |date=2021-12-06 |title=Hackers Steal $150M From Crypto Exchange Billed as 'Most Trusted' |url=https://www.vice.com/en/article/hackers-steal-dollar150m-from-crypto-exchange-billed-as-most-trusted/ |access-date=2021-12-14 |website=The Verge |language=en |archive-date=2022-06-01 |archive-url=https://web.archive.org/web/20220601010838/https://www.vice.com/en/article/akvewk/hackers-steal-dollar150m-from-crypto-exchange-billed-as-most-trusted |url-status=live }}</ref> Although BitMart stated that it would reimburse its clients, many BitMart clients have not received any money from the exchange as of January 2022.<ref>{{Cite web |last=Sigalos |first=MacKenzie |date=2022-01-07 |title=Iranian immigrant lost $53,000 in crypto hack, says he faces ruin if BitMart doesn't pay him back |url=https://www.cnbc.com/2022/01/07/cryptocurrency-theft-bitmart-still-owes-victims-of-200-million-hack.html |access-date=2022-01-08 |website=CNBC |language=en |archive-date=2022-09-24 |archive-url=https://web.archive.org/web/20220924165218/https://www.cnbc.com/2022/01/07/cryptocurrency-theft-bitmart-still-owes-victims-of-200-million-hack.html |url-status=live }}</ref> * On December 12, 2021, users of VulcanForge lost around $135M worth of PYR due to breaches of multiple wallets. Partnering centralized exchanges had been notified of the hack and they have pledged to seize any stolen funds upon deposit.<ref>{{Cite web |date=2021-12-13 |title=Hackers Steal $140 Million From Users of Crypto Gaming Company |url=https://www.vice.com/en/article/hackers-steal-dollar140-million-from-users-of-crypto-gaming-company/ |access-date=2021-12-14 |website=The Verge |language=en |archive-date=2022-08-05 |archive-url=https://web.archive.org/web/20220805234054/http://www.vice.com/en/article/4awxep/hackers-steal-dollar140-million-from-users-of-crypto-gaming-company |url-status=live }}</ref> * On January 27, 2022, Qubit Finance (DeFi) lost around $80M worth of Binance Coin due to a flaw in the smart contract that enabled the withdrawal of the said amount in exchange for a deposit of 0 ETH.<ref>{{Cite web |date=2021-01-28 |title=Hackers have stolen $80 million in cryptocurrency from the Qubit DeFi platform |url=https://www.theverge.com/2022/1/28/22906366/cryptocurrency-hackers-steal-qubit-binance-ethereum |access-date=2022-01-29 |website=The Verge |language=en |archive-date=2022-08-28 |archive-url=https://web.archive.org/web/20220828081341/https://www.theverge.com/2022/1/28/22906366/cryptocurrency-hackers-steal-qubit-binance-ethereum |url-status=live }}</ref> * In March 2022,<ref>[https://www.outlookindia.com/business/crypto-year-ender-here-s-a-look-at-major-crypto-scams-of-2022-news-249348 "Crypto Year Ender: Here's A Look At Major Crypto Scams Of 2022"] {{Webarchive|url=https://web.archive.org/web/20221230034502/https://www.outlookindia.com/business/crypto-year-ender-here-s-a-look-at-major-crypto-scams-of-2022-news-249348 |date=2022-12-30 }} Outlook India; December 30, 2022. Retrieved January 7, 2023.</ref> the largest cryptocurrency theft of the year, {{USD|625 million}} in ether and USD coin was stolen from the Ronin Network. Hacked nodes were finally discovered when a user reported being unable to withdraw funds. The heist was later linked to Lazarus Group, a North Korean state-backed hacking collective, by the U.S. Treasury Department.<ref name=Forbes/> * On September 20, 2022, Wintermute was hacked resulting in theft of {{USD|160 million}}. The company attributed the vulnerability to a service used by the platform that generates vanity addresses for digital accounts.<ref name=Forbes/> * On September 25, 2023, it was reported that $200 million was stolen by hackers from Hong Kong-based crypto firm Mixin Network. The company suspended deposits and withdrawals, stating that the database of its network's cloud service provider was attacked by hackers resulting in the loss of the assets.<ref>{{Cite news |last=Howcroft |first=Elizabeth |date=2023-09-25 |title=Hong Kong crypto firm hit by $200 million hack |language=en |work=Reuters |url=https://www.reuters.com/technology/hong-kong-crypto-firm-hit-by-200-million-hack-2023-09-25/ |access-date=2023-09-25 |archive-date=2023-09-25 |archive-url=https://web.archive.org/web/20230925215122/https://www.reuters.com/technology/hong-kong-crypto-firm-hit-by-200-million-hack-2023-09-25/ |url-status=live }}</ref><ref>{{Cite web |last=Hardcastle |first=Jessica Lyons |title=Mixin suspends some crypto services after $200m heist |url=https://www.theregister.com/2023/09/25/mixin_200m_heist/ |access-date=2023-09-25 |website=www.theregister.com |language=en |archive-date=2023-09-25 |archive-url=https://web.archive.org/web/20230925193204/https://www.theregister.com/2023/09/25/mixin_200m_heist/ |url-status=live }}</ref> * On February 21, 2025 the exchange Bybit reported the theft of $1.5 billion in ether, estimated at the time to be the largest crypto heist in history. A blockchain analysis firm linked the attack to the Lazarus Group which exploited security features transferring the money to multiply unidentified addresses<ref>{{Cite web |last=Sigalos |first=MacKenzie |date=2025-02-21 |title=Hackers steal $1.5 billion from exchange Bybit in biggest-ever crypto heist |url=https://www.cnbc.com/2025/02/21/hackers-steal-1point5-billion-from-exchange-bybit-biggest-crypto-heist.html |access-date=2025-02-22 |website=CNBC |language=en}}</ref> * On June 17, 2025 it was reported that there was cyberattack on Iran's biggest cryptocurrency exchange, Nobitex. The attack was done during the Twelve-Day War. The attack, blamed on the Israel-linked hacker group Gonjeshke Darande (also called "Predatory Sparrow"), led to the theft of more than $90 million in digital assets, mostly Tether (USDT) on the Tron network.<ref>{{Cite web |last=Levin |first=Gabe |date=June 19, 2025 |title=Hackers say they wiped out $90 million from Iran cryptocurrency exchange |url=https://apnews.com/article/iran-israel-cryptocurrency-hack-data-leak-8febb3c9c2acf4de2894a7a8a92aa88c |access-date=June 23, 2025 |website=AP News |language=en}}</ref> * 25 June 2025, law enforcement officials from the Spanish Guardia Civil, Europol and other European countries identified and arrested perpetrators of a cryptocurrency scheme that had laundered EUR 460 million in illicit profits stolen from over 5 000 victims.<ref>{{cite news |title=Crypto investment fraud ring dismantled in Spain after defrauding 5 000 victims worldwide |url=https://www.europol.europa.eu/media-press/newsroom/news/crypto-investment-fraud-ring-dismantled-in-spain-after-defrauding-5-000-victims-worldwide |access-date=11 February 2026 |agency=Europol Press Service}}</ref> Leaders of the scam reportedly used a net of associates spread around the world to raise funds through cash withdrawals, bank transfers and crypto-transfers.<ref>{{cite news |title=Europol Dismantles $540 Million Cryptocurrency Fraud Network, Arrests Five Suspects |url=https://thehackernews.com/2025/06/europol-dismantles-540-million.html |access-date=11 February 2026 |agency=Hacker News}}</ref>

=== Wallets === The ''Parity Wallet'' has had two security incidents amounting to 666,773 ETH lost or stolen.<ref>{{Cite web |title=Major issues resulting in lost or stuck funds |url=https://eth.wiki/faqs/major-issues-resulting-in-lost-or-stuck-funds |website=Ethereum Wiki |language=en |access-date=2021-03-07 |archive-date=2021-10-18 |archive-url=https://web.archive.org/web/20211018033815/https://eth.wiki/faqs/major-issues-resulting-in-lost-or-stuck-funds |url-status=live }}{{better source needed|date=December 2022}}</ref> In July 2017, due to a bug in the multi-signature code, 153,037 ETH (approximately {{US$|32 million}} at the time) were stolen.<ref>{{Cite news |last=Hern |first=Alex |date=8 November 2017 |title='$300m in cryptocurrency' accidentally lost forever due to bug |language=en |work=The Guardian |url=https://www.theguardian.com/technology/2017/nov/08/cryptocurrency-300m-dollars-stolen-bug-ether |access-date=7 March 2021 |archive-date=17 September 2022 |archive-url=https://web.archive.org/web/20220917014109/https://www.theguardian.com/technology/2017/nov/08/cryptocurrency-300m-dollars-stolen-bug-ether |url-status=live }}</ref><ref>{{Cite web |date=20 July 2017 |title=The Multi-sig Hack: A Postmortem |work=Blockchain Infrastructure for the Decentralised Web |url=https://www.parity.io/the-multi-sig-hack-a-postmortem/ |archive-url=https://web.archive.org/web/20210227150251/https://www.parity.io/the-multi-sig-hack-a-postmortem/ |archive-date=27 February 2021 |publisher=Parity |language=en}}</ref> In November 2017, a subsequent multisignature{{clarify|date=July 2021}} flaw in ''Parity'' made 513,774 ETH (about {{US$|150 million}}) unreachable;<ref>{{Cite book |last1=Destefanis |first1=Giuseppe |last2=Marchesi |first2=M. |last3=Ortu |first3=Marco |last4=Tonelli |first4=R. |last5=Bracciali |first5=A. |last6=Hierons |first6=R. |title=2018 International Workshop on Blockchain Oriented Software Engineering (IWBOSE) |chapter=Smart contracts vulnerabilities: A call for blockchain software engineering? |date=2018 |pages=19–25 |doi=10.1109/IWBOSE.2018.8327567 |isbn=978-1-5386-5986-1 |hdl-access=free |hdl=1893/27135 |s2cid=4569204}}</ref><ref>{{Cite web |date=15 November 2017 |title=A Postmortem on the Parity Multi-Sig Library Self-Destruct |url=https://www.parity.io/a-postmortem-on-the-parity-multi-sig-library-self-destruct/ |url-status=live |archive-url=https://web.archive.org/web/20210120013147/https://www.parity.io/a-postmortem-on-the-parity-multi-sig-library-self-destruct/ |archive-date=20 January 2021 |website=Blockchain Infrastructure for the Decentralised Web |language=en}}</ref> as of March 2019, the funds were still frozen.<ref>{{Cite news |last=Wieczner |first=Jen |date=4 March 2019 |title=Ethereum Fork Could Help Restore Frozen Parity Cryptocurrency |language=en |work=Fortune |url=https://fortune.com/2019/03/04/ethereum-fork-parity-frozen-cryptocurrency/ |access-date=7 March 2021 |archive-date=25 January 2022 |archive-url=https://web.archive.org/web/20220125151249/https://fortune.com/2019/03/04/ethereum-fork-parity-frozen-cryptocurrency/ |url-status=dead }}</ref>

=== Energy === Notable cases of electricity theft to mine proof-of-work cryptocurrencies include: * In February 2021 Malaysian police arrested six men involved in a Bitcoin mining operation which had stolen US$2 million in electricity<ref>{{Cite web |last=Tan |first=Ben |date=17 February 2021 |title=Johor police chief: TNB lost RM8.6m to alleged electricity theft by bitcoin mining syndicate {{!}} Malay Mail |url=https://www.malaymail.com/news/malaysia/2021/02/17/johor-police-chief-tnb-lost-rm8.6m-to-alleged-electricity-theft-by-bitcoin/1950571 |access-date=2021-08-31 |website=www.malaymail.com |language=en |archive-date=2022-08-20 |archive-url=https://web.archive.org/web/20220820033232/https://www.malaymail.com/news/malaysia/2021/02/17/johor-police-chief-tnb-lost-rm8.6m-to-alleged-electricity-theft-by-bitcoin/1950571 |url-status=live }}</ref> * Ukraine authorities shut down an underground gaming and cryptocurrency farm in July 2021, accused of stealing $259,300 of electricity each month<ref>{{Cite web |title=Take a look inside this underground crypto mining farm in Ukraine with its 3,800 PlayStations and 5,000 computers |url=https://news.yahoo.com/look-inside-underground-crypto-mining-090129713.html |access-date=2021-08-31 |website=news.yahoo.com |date=11 July 2021 |language=en-US |archive-date=2021-10-27 |archive-url=https://web.archive.org/web/20211027144349/https://news.yahoo.com/look-inside-underground-crypto-mining-090129713.html |url-status=live }}</ref> * In July 2021 Malaysian authorities destroyed 1,069 cryptocurrency mining systems accused of stealing electricity from the grid<ref>{{Cite web |title=Police steamroll 1,000 bitcoin mines after 'electricity theft' prompts power outages |url=https://finance.yahoo.com/news/police-steamroll-1-000-bitcoin-181547805.html |access-date=2021-08-31 |website=finance.yahoo.com |date=20 July 2021 |language=en-US |archive-date=2022-09-02 |archive-url=https://web.archive.org/web/20220902213617/https://finance.yahoo.com/news/police-steamroll-1-000-bitcoin-181547805.html |url-status=live }}</ref> * In May 2021 UK authorities closed a suspected bitcoin mine after Western Power Distribution found an illegal connection to the electricity supply<ref>{{Cite news |date=2021-05-28 |title=Sandwell Bitcoin mine found stealing electricity |language=en-GB |work=BBC News |url=https://www.bbc.com/news/uk-england-birmingham-57280115 |access-date=2021-08-31 |archive-date=2022-06-24 |archive-url=https://web.archive.org/web/20220624011200/https://www.bbc.com/news/uk-england-birmingham-57280115 |url-status=live }}</ref>

===Blockchains=== ====Bitcoin==== There have been many cases of bitcoin theft.<ref name="Economist113013Pressure">{{Cite news |date=30 November 2013 |title=Bitcoin: Bitcoin under pressure |newspaper=The Economist |url=https://www.economist.com/news/technology-quarterly/21590766-virtual-currency-it-mathematically-elegant-increasingly-popular-and-highly |access-date=30 November 2013 |archive-date=30 November 2013 |archive-url=https://web.archive.org/web/20131130032403/http://www.economist.com/news/technology-quarterly/21590766-virtual-currency-it-mathematically-elegant-increasingly-popular-and-highly |url-status=live }}</ref> {{As of|2017|12}}, around 980,000 bitcoins—over five percent of all bitcoin in circulation{{Efn|As of supply count of Bitcoin, 2021-09-23}}—had been lost on cryptocurrency exchanges.<ref>{{Cite news |last1=Harney |first1=Alexandra |last2=Stecklow |first2=Steve |date=2017-11-16 |title=Twice burned - How Mt. Gox's bitcoin customers could lose again |language=en |work=Reuters |url=https://www.reuters.com/investigates/special-report/bitcoin-gox/ |access-date=2018-09-06 |archive-date=2019-08-29 |archive-url=https://web.archive.org/web/20190829052101/https://www.reuters.com/investigates/special-report/bitcoin-gox/ |url-status=live }}</ref>

One type of theft involves a third party accessing the private key to a victim's bitcoin address,<ref>{{Cite news |last=Jeffries |first=Adrianne |date=19 December 2013 |title=How to steal Bitcoin in three easy steps |work=The Verge |url=https://www.theverge.com/2013/12/19/5183356/how-to-steal-bitcoin-in-three-easy-steps |access-date=17 January 2014 |archive-date=10 May 2021 |archive-url=https://web.archive.org/web/20210510195348/https://www.theverge.com/2013/12/19/5183356/how-to-steal-bitcoin-in-three-easy-steps |url-status=live }}</ref> or an online wallet.<ref>{{Cite news |last=Everett |first=David |date=April 2012 |title=So how can you steal Bitcoins |work=Smartcard & Identity News |url=http://www.smartcard.co.uk/articles/so_how_can_you_steal_bitcoins.php |access-date=17 January 2014 |archive-date=18 October 2016 |archive-url=https://web.archive.org/web/20161018080331/http://www.smartcard.co.uk/articles/so_how_can_you_steal_bitcoins.php |url-status=dead }}</ref> If the private key is stolen, all the bitcoins from the compromised address can be transferred. In that case, the network does not have any provisions to identify the thief, block further transactions of those stolen bitcoins, or return them to the legitimate owner.<ref name="winkles">{{Cite journal |last=Grocer, Stephen |date=2 July 2013 |title=Beware the Risks of the Bitcoin: Winklevii Outline the Downside |url=https://blogs.wsj.com/moneybeat/2013/07/02/beware-the-risks-of-the-bitcoin-winklevii-outline-the-downside/ |journal=The Wall Street Journal |issue=Moneybeat |access-date=21 October 2013 |archive-date=31 January 2021 |archive-url=https://web.archive.org/web/20210131152320/https://blogs.wsj.com/moneybeat/2013/07/02/beware-the-risks-of-the-bitcoin-winklevii-outline-the-downside/ |url-status=live }}</ref>

Theft also occurs at sites where bitcoins are used to purchase illicit goods. In late November 2013, an estimated {{USD|100 million}} in bitcoins were allegedly stolen from the online illicit goods marketplace Sheep Marketplace, which immediately closed.<ref name="hern2013" /> Users tracked the coins as they were processed and converted to cash, but no funds were recovered and no culprits were identified.<ref name="hern2013">{{Cite news |last=Hern |first=Alex |date=9 December 2013 |title=Recovering stolen bitcoin: a digital wild goose chase |work=The Guardian |url=https://www.theguardian.com/technology/2013/dec/09/recovering-stolen-bitcoin-sheep-marketplace-trading-digital-currency-money |access-date=6 March 2014 |archive-date=9 July 2019 |archive-url=https://web.archive.org/web/20190709185910/https://www.theguardian.com/technology/2013/dec/09/recovering-stolen-bitcoin-sheep-marketplace-trading-digital-currency-money |url-status=live }}</ref> A different black market, Silk Road 2, stated that during a February 2014 hack, bitcoins valued at $2.7 million were taken from escrow accounts.<ref name="silk2">{{Cite news |date=14 February 2014 |title=Silk Road 2 loses $2.7m in bitcoins in alleged hack |work=BBC News |url=https://www.bbc.co.uk/news/technology-26187725 |access-date=15 February 2014 |archive-date=15 October 2022 |archive-url=https://web.archive.org/web/20221015160521/https://www.bbc.co.uk/news/technology-26187725 |url-status=live }}</ref>

Sites where users exchange bitcoins for cash or store them in "wallets" are also targets for theft. Inputs.io, an Australian wallet service, was hacked twice in October 2013 and lost more than $1 million in bitcoins.<ref>{{Cite news |last=Hern |first=Alex |date=8 November 2013 |title=Bitcoin site Inputs.io loses £1m after hackers strike twice |work=The Guardian |url=https://www.theguardian.com/technology/2013/nov/08/hackers-steal-1m-from-bitcoin-tradefortress-site |access-date=18 September 2015 |archive-date=26 July 2019 |archive-url=https://web.archive.org/web/20190726122329/https://www.theguardian.com/technology/2013/nov/08/hackers-steal-1m-from-bitcoin-tradefortress-site |url-status=live }}</ref> GBL, a Chinese bitcoin trading platform, suddenly shut down on 26 October 2013; subscribers, unable to log in, lost up to $5 million worth of bitcoin.<ref name="gbl3">{{Cite news |title=When bitcoins go bad: 4 stories of fraud, hacking, and digital currencies. |newspaper=The Washington Post |url=https://www.washingtonpost.com/blogs/the-switch/wp/2013/11/26/when-bitcoins-go-bad-4-stories-of-fraud-and-hacking/ |url-status=live |access-date=6 March 2015 |archive-url=https://web.archive.org/web/20150101090127/http://www.washingtonpost.com/blogs/the-switch/wp/2013/11/26/when-bitcoins-go-bad-4-stories-of-fraud-and-hacking/ |archive-date=1 January 2015}}</ref> In late February 2014 Mt. Gox, one of the largest virtual currency exchanges, filed for bankruptcy in Tokyo amid reports that bitcoins worth {{USD|350 million}} had been stolen.<ref name="GoxBankrupt">{{Cite web |date=28 February 2014 |title=MtGox bitcoin exchange files for bankruptcy |url=https://www.bbc.com/news/technology-25233230 |access-date=18 April 2014 |website=bbc.com |publisher=BBC |archive-date=6 June 2019 |archive-url=https://web.archive.org/web/20190606051848/https://www.bbc.com/news/technology-25233230 |url-status=live }}</ref> Flexcoin, a bitcoin storage specialist based in Alberta, Canada, shut down in March 2014 after saying it discovered a theft of about $650,000 in bitcoins.<ref name="ligaya2014">{{Cite news |last=Ligaya |first=Armina |date=5 March 2014 |title=After Alberta's Flexcoin, Mt. Gox hacked, Bitcoin businesses face sting of free-wheeling ways |work=Financial Post |url=http://business.financialpost.com/2014/03/05/after-albertas-flexcoin-mt-gox-hacked-bitcoin-businesses-face-sting-of-free-wheeling-ways/ |access-date=7 March 2014 |archive-date=7 March 2014 |archive-url=https://web.archive.org/web/20140307072707/http://business.financialpost.com/2014/03/05/after-albertas-flexcoin-mt-gox-hacked-bitcoin-businesses-face-sting-of-free-wheeling-ways/ |url-status=live }}</ref> Poloniex, a digital currency exchange, reported in March 2014 that it lost bitcoins valued at around $50,000.<ref name="truong2014">{{Cite news |last=Truong |first=Alice |date=6 March 2014 |title=Another Bitcoin exchange, another heist |work=Fast Company |url=http://www.fastcompany.com/3027373/fast-feed/another-bitcoin-exchange-another-heist |access-date=7 March 2014 |archive-date=10 July 2017 |archive-url=https://web.archive.org/web/20170710130104/https://www.fastcompany.com/3027373/fast-feed/another-bitcoin-exchange-another-heist |url-status=live }}</ref> In January 2015 UK-based bitstamp, the third busiest bitcoin exchange globally was hacked and {{USD|5 million}} in bitcoins were stolen.<ref name="zdnet" /> In February 2015, a Chinese exchange named BTER lost bitcoins worth nearly $2 million to hackers.<ref>{{Cite web |last=Millward, Steven |date=16 February 2015 |title=Nearly $2M in bitcoins feared lost after Chinese cryptocurrency exchange hack |url=https://www.techinasia.com/bitcoins-lost-after-china-cryptocurrency-exchange-hack-bter/ |access-date=18 February 2015 |website=techinasia.com |publisher=Tech In Asia |archive-date=30 May 2019 |archive-url=https://web.archive.org/web/20190530190912/https://www.techinasia.com/bitcoins-lost-after-china-cryptocurrency-exchange-hack-bter |url-status=live }}</ref>

A major bitcoin exchange, Bitfinex, was compromised by the 2016 Bitfinex hack, when nearly 120,000 bitcoins (around {{USD|71 million}}) were stolen in 2016.<ref>{{Cite web |last=Samira Sadeque and agencies |date=February 8, 2022 |title=US married couple arrested for allegedly conspiring to launder $4.5bn in bitcoin |url=https://www.theguardian.com/technology/2022/feb/08/us-married-couple-arrested-allegedly-conspiring-launder-45bn-bitcoin |access-date=February 9, 2022 |website=www.theguardian.com |archive-date=June 29, 2022 |archive-url=https://web.archive.org/web/20220629213659/https://www.theguardian.com/technology/2022/feb/08/us-married-couple-arrested-allegedly-conspiring-launder-45bn-bitcoin |url-status=live }}</ref> Bitfinex was forced to suspend its trading. The theft was the second-largest bitcoin heist ever, dwarfed only by the Mt. Gox theft in 2014. According to ''Forbes'', "All of Bitfinex's customers... will stand to lose money. The company has announced a cut of 36.067% across the board."<ref name="bitfinexheist">{{Cite news |last=Coppola |first=Frances |date=6 August 2016 |title=Theft And Mayhem In The Bitcoin World |work=Forbes |url=https://www.forbes.com/sites/francescoppola/2016/08/06/theft-and-mayhem-in-the-bitcoin-world/#3adc93c251ae |access-date=15 August 2016 |archive-date=7 August 2016 |archive-url=https://web.archive.org/web/20160807023213/http://www.forbes.com/sites/francescoppola/2016/08/06/theft-and-mayhem-in-the-bitcoin-world/#3adc93c251ae |url-status=live }}</ref> Following the hack the company failed to refund customers, though efforts are continuing.<ref>{{cite news |last1=Kharif |first1=Olga |title=Who will get crypto back after arrests in $3.6-billion bitcoin hack? |url=https://www.latimes.com/business/story/2022-02-09/bitfinex-who-will-get-crypto-back-after-arrests-in-3-6-billion-bitcoin-hack |newspaper=LA Times |date=10 February 2022 |access-date=2024-05-06 |archive-date=2024-05-06 |archive-url=https://web.archive.org/web/20240506164646/https://www.latimes.com/business/story/2022-02-09/bitfinex-who-will-get-crypto-back-after-arrests-in-3-6-billion-bitcoin-hack |url-status=live }}</ref> In 2022, the US government recovered 94,636 bitcoin (worth approximately $3.6 billion at the time of recovery) from the 2016 thefts of the Bitfinex exchange, reported as the "largest financial seizure" in U.S. history.<ref name="Vanity Fair-2022" /> By February 2022, the amount of bitcoin stolen in 2016 had increased in value to $4.5 billion. Two people were arrested for the thefts<ref>{{Cite news |last=Vigna |first=Paul |date=9 February 2022 |title=How the Feds Tracked Down $3.6 Billion in Stolen Bitcoin |publisher=The Wall Street Journal |url=https://www.wsj.com/articles/how-the-feds-tracked-down-3-6-billion-in-stolen-bitcoin-11644447110 |access-date=3 March 2022 |archive-date=11 September 2022 |archive-url=https://web.archive.org/web/20220911090407/https://www.wsj.com/articles/how-the-feds-tracked-down-3-6-billion-in-stolen-bitcoin-11644447110 |url-status=live }}</ref> in 2022; married couple Ilya "Dutch" Lichtenstein and rapper Heather "Razzlekhan" Morgan were charged with conspiracy to commit money laundering and conspiracy to defraud the United States.<ref name="Vanity Fair-2022">{{Cite magazine |date=2022-08-16 |title=The Ballad of Razzlekhan and Dutch, Bitcoin's Bonnie and Clyde |url=https://www.vanityfair.com/news/2022/08/the-ballad-of-razzlekhan-and-dutch-bitcoins-bonnie-and-clyde |access-date=2023-06-04 |magazine=Vanity Fair |language=en-US |archive-date=2023-05-24 |archive-url=https://web.archive.org/web/20230524172356/https://www.vanityfair.com/news/2022/08/the-ballad-of-razzlekhan-and-dutch-bitcoins-bonnie-and-clyde |url-status=live }}</ref>

On May 7, 2019, hackers stole over 7000 Bitcoins from the Binance Cryptocurrency Exchange, at a value of over 40 million US dollars. Binance CEO Zhao Changpeng stated: "The hackers used a variety of techniques, including phishing, viruses, and other attacks... The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time."<ref>{{Cite magazine |last=Barrett |first=Brian |date=2019-05-08 |title=Hack Brief: Hackers Stole $40 Million from Binance Cryptocurrency Exchange |url=https://www.wired.com/story/hack-binance-cryptocurrency-exchange/ |magazine=Wired |access-date=2019-05-08 |archive-date=2022-10-12 |archive-url=https://web.archive.org/web/20221012140114/https://www.wired.com/story/hack-binance-cryptocurrency-exchange/ |url-status=live }}</ref>

Thefts have raised safety concerns. Charles Hayter, founder of the digital currency comparison website CryptoCompare said, "It's a reminder of the fragility of the infrastructure in such a nascent industry."<ref>{{Cite news |last=Heller |first=Matthew |date=4 August 2016 |title=Bitfinex Hack Fuels Bitcoin Security Concerns - |language=en-US |work=CFO |url=http://ww2.cfo.com/cyber-security-technology/2016/08/bitfinex-hack-fuels-bitcoin-security-concerns/ |access-date=11 January 2017 |archive-date=29 January 2017 |archive-url=https://web.archive.org/web/20170129130817/http://ww2.cfo.com/cyber-security-technology/2016/08/bitfinex-hack-fuels-bitcoin-security-concerns/ |url-status=live }}</ref> According to the hearing of the U.S. House of Representatives Committee on Small Business on April 2, 2014, "these vendors lack regulatory oversight, minimum capital standards and don't provide consumer protection against loss or theft."<ref>{{Cite web |date=2 April 2014 |title=Testimony of Mark T. Williams Bitcoin: Examining the Benefits and Risks for Small Business |url=http://smallbusiness.house.gov/uploadedfiles/4-2-2014_williams_final_testimony.pdf |url-status=dead |archive-url=https://web.archive.org/web/20180923065035/https://smallbusiness.house.gov/uploadedfiles/4-2-2014_williams_final_testimony.pdf |archive-date=23 September 2018 |access-date=10 January 2017 |publisher=U.S. House of Representatives Committee on Small Business Hearing}}</ref>

Japan and the United States have accused North Korean hackers of stealing cryptocurrency worth over $300 million from the Japan-based exchange DMM Bitcoin. The theft was attributed to the TraderTraitor group, believed to be part of the Lazarus Group, which is allegedly linked to North Korean authorities. The incident occurred in late May 2024, involving the theft of 4,502.9 Bitcoin. The theft involved the hackers using social engineering tactics to impersonate a recruiter on LinkedIn and send a malicious pre-employment test to an employee at a crypto wallet software company. This allowed them to compromise the employee's system and manipulate a legitimate transaction request from DMM, resulting in the loss of 4,502.9 Bitcoin. The FBI and Japan's National Police Agency are collaborating to combat North Korea's cybercrime activities, which date back to the mid-1990s and include a cyber-warfare unit known as Bureau 121. The Lazarus Group has previously gained notoriety for its involvement in high-profile hacks, including the attack on Sony Pictures in retaliation for the film "The Interview."

==== Ethereum ==== {{See also|Ethereum#Launch and the DAO event (2014–2016)}} In June 2016, hackers exploited a vulnerability in The DAO to steal {{USD|50 million}}. Subsequently, the currency was forked into Ethereum Classic, and Ethereum, with the latter continuing with the new blockchain without the exploited translations.<ref>Popper, Nathaniel: [https://www.nytimes.com/2016/06/18/business/dealbook/hacker-may-have-removed-more-than-50-million-from-experimental-cybercurrency-project.html "Hacker May Have Taken $50 Million From Cybercurrency Project"] {{Webarchive|url=https://web.archive.org/web/20170620012726/https://www.nytimes.com/2016/06/18/business/dealbook/hacker-may-have-removed-more-than-50-million-from-experimental-cybercurrency-project.html |date=2017-06-20 }} The New York Times. June 18, 2016. (Archived from the original June 20, 2017.) Retrieved January 7, 2023.</ref><ref>Price, Rob: [https://web.archive.org/web/20170611195628/http://uk.businessinsider.com/dao-hacked-ethereum-crashing-in-value-tens-of-millions-allegedly-stolen-2016-6 "Digital Currency Ethereum is Cratering Amid Claims of a $50 Million Hack"] Business Insider. June 17, 2016. (Archived from the original June 11, 2017.) Retrieved January 7, 2023.</ref>

On November 21, 2017, Tether announced that it had been hacked, losing $31 million in USDT from its core treasury wallet.<ref>{{Cite news |last=Russell |first=Jon |title=Tether, a startup that works with bitcoin exchanges, claims a hacker stole&nbsp;$31M |work=TechCrunch |url=https://techcrunch.com/2017/11/20/tether-claims-a-hacker-stole-31m/ |url-status=live |access-date=22 November 2017 |archive-url=https://web.archive.org/web/20171121105158/https://techcrunch.com/2017/11/20/tether-claims-a-hacker-stole-31m/ |archive-date=21 November 2017}}</ref> The company has 'tagged' the stolen currency, hoping to 'lock' them in the hacker's wallet (making them unspendable).<ref>{{Cite web |title=Tether Hacked — Attacker Steals $31 Million of Digital Tokens |url=https://thehackernews.com/2017/11/tether-bitcoin-hacked.html |date=2017-11-20 |access-date=2025-10-03 |quote=The unknown hacker stole the tokens worth $30,950,010 from the Tether Treasury wallet. The stolen tokens will not be redeemed; the company is attempting token recovery to prevent them from entering the broader cryptocurrency market.}}</ref>

In 2022, hackers created a signature account on a blockchain bridge called "Wormhole" and stole more than $300 million worth of ether.<ref>{{Cite web |last=Goodin |first=Dan |date=2022-02-04 |title=How $323M in crypto was stolen from a blockchain bridge called Wormhole |url=https://arstechnica.com/information-technology/2022/02/how-323-million-in-crypto-was-stolen-from-a-blockchain-bridge-called-wormhole/ |access-date=2022-03-03 |website=Ars Technica |language=en-us |archive-date=2022-10-09 |archive-url=https://web.archive.org/web/20221009104040/https://arstechnica.com/information-technology/2022/02/how-323-million-in-crypto-was-stolen-from-a-blockchain-bridge-called-wormhole/ |url-status=live }}</ref>

=== Other incidents === In 2015, two members of the Silk Road Task Force—a multi-agency federal task force that carried out the U.S. investigation of Silk Road—were convicted over charges pertaining to corruption.<ref name="Jeong">Sarah Jeong, [https://www.vice.com/en/article/dea-agent-who-faked-a-murder-and-took-bitcoins-from-silk-road-explains-himself/ DEA Agent Who Faked a Murder and Took Bitcoins from Silk Road Explains Himself], ''Motherboard'', Vice (25 October 2015).</ref> Former DEA agent, Carl Mark Force, had attempted to extort Silk Road founder Ross Ulbricht ("Dread Pirate Roberts") by faking the murder of an informant. He pleaded guilty to money laundering, obstruction of justice, and extortion under color of official right, and was sentenced to 6.5 years in federal prison.<ref name="Jeong" /> Former U.S. Secret Service agent, Shaun Bridges, pleaded guilty to crimes relating to his diversion of $800,000 worth of bitcoins to his personal account during the investigation, and also separately pleaded guilty to money laundering in connection to another cryptocurrency theft. Bridges was sentenced to almost eight years in federal prison.<ref>Nate Raymond, [https://www.reuters.com/article/us-usa-cyber-silkroad/ex-agent-in-silk-road-probe-gets-more-prison-time-for-bitcoin-theft-idUSKBN1D804H Ex-agent in Silk Road probe gets more prison time for bitcoin theft] {{webarchive|url=https://web.archive.org/web/20171229112652/https://www.reuters.com/article/us-usa-cyber-silkroad/ex-agent-in-silk-road-probe-gets-more-prison-time-for-bitcoin-theft-idUSKBN1D804H|date=29 December 2017}}, Reuters (7 November 2017).</ref>

Gerald Cotten founded QuadrigaCX in 2013, after graduating from the Schulich School of Business in Toronto. Cotten was acting as the sole curator of the exchange. Quadriga had no official bank accounts since banks at the time had no method of managing cryptocurrency. In late 2018, Canada's largest crypto exchange QuadrigaCX lost {{USD|190 million}} in cryptocurrency when the owner died; he was the only one with knowledge of the password to a storage wallet. The exchange filed for bankruptcy in 2019.<ref>{{Cite magazine |last=Rich |first=Nathaniel |date=22 November 2019 |title=Ponzi Schemes, Private Yachts, and a Missing $250 Million in Crypto: The Strange Tale of Quadriga |url=https://www.vanityfair.com/news/2019/11/the-strange-tale-of-quadriga-gerald-cotten |magazine=Vanity Fair |language=en |access-date=13 February 2020 |archive-date=22 October 2022 |archive-url=https://web.archive.org/web/20221022002537/https://www.vanityfair.com/news/2019/11/the-strange-tale-of-quadriga-gerald-cotten |url-status=live }}</ref>

In 2018, Ellis Pinsky, 15 years old, was accused of orchestrating a scheme to steal millions of dollars' worth of cryptocurrencies from Michael Terpin, a prominent cryptocurrency investor. The scheme involved a social engineering technique known as the SIM swap scam. The case attracted significant attention due to Pinsky's young age and the substantial amount of money involved. It raised questions about the security of digital assets and the challenges in regulating and prosecuting crimes in the rapidly evolving world of cryptocurrencies. Pinsky later reached a settlement to return $22 million in cryptocurrency to Terpin.<ref>{{Cite web|url=https://www.rollingstone.com/culture/culture-features/crypto-heist-teenage-hacker-ellis-pinsky-1367400/|title=How 'Baby Al Capone' Pulled Off a $24 Million Crypto Heist|date=8 July 2022 |publisher=Rolling Stone}}</ref><ref name="El País">{{Cite web|url=https://english.elpais.com/science-tech/2022-07-30/the-15-year-old-boy-who-stole-24-million-dollars-in-cryptocurrency.html|title=The 15-year-old boy who stole $24 million in cryptocurrency|date=31 July 2022 |publisher=El País}}</ref><ref>{{Cite news|url=https://www.bloomberg.com/news/newsletters/2022-12-07/when-crypto-scammers-stole-23-million-this-victim-found-them|title=When Crypto Scammers Stole $23 Million, This Victim Found Them|newspaper=Bloomberg|date=7 December 2022 }}</ref><ref>{{Cite web|url=https://www.thetimes.co.uk/article/evil-mastermind-of-cyberscam-was-ellis-pinsky-15-xdt9nbs7j|title='Evil mastermind of cyberscam was Ellis Pinsky, 15'|date=25 May 2020 |publisher=The Times (Archived)|access-date=2023-09-08|archive-date=2021-09-13|archive-url=https://archive.today/20210913082640/https://www.thetimes.co.uk/article/evil-mastermind-of-cyberscam-was-ellis-pinsky-15-xdt9nbs7j|url-status=bot: unknown}}</ref><ref>{{Cite web|url=https://gizmodo.com/ellis-pinsky-crypto-hack-michael-terpin-1849658068|title=SIM Card Swindler 'Baby Al Capone' Agrees to Pay Back $22 Million to Hacked Crypto Investor|last=Barr|first=Kyle|date=2022-10-14|website=Gizmodo}}</ref> In May 2020, Pinsky experienced a home invasion by intruders searching for remaining stolen assets.<ref name="El País"/> Michael Terpin, the founder and chief executive officer of Transform Group, a San Juan, Puerto Rico-based company that advises blockchain businesses on public relations and communications, sued Ellis Pinsky in New York on May 7, 2020, for leading a "sophisticated cybercrime spree" that stole {{USD|24 million}} in cryptocurrency by hacking into Terpin's phone in 2018.<ref>{{Cite web |last=Kaplan |first=Michael |date=2019-04-13 |title=Hackers are stealing millions in Bitcoin — and living like big shots |url=https://nypost.com/2019/04/13/hackers-are-stealing-millions-in-bitcoin-and-living-like-big-shots/ |access-date=2020-05-08 |website=New York Post |language=en |archive-date=2022-08-20 |archive-url=https://web.archive.org/web/20220820032716/https://nypost.com/2019/04/13/hackers-are-stealing-millions-in-bitcoin-and-living-like-big-shots/ |url-status=live }}</ref><ref name="www.msn.com">{{Cite web |title=Teen Hacker and Crew of 'Evil Geniuses' Accused of $24 Million Crypto Theft |url=https://www.msn.com/en-us/money/markets/teen-hacker-and-crew-of-evil-geniuses-accused-of-dollar24-million-crypto-theft/ar-BB13KJxd?ocid=spartandhp |access-date=2020-05-08 |website=www.msn.com |archive-date=2022-10-18 |archive-url=https://web.archive.org/web/20221018151958/https://www.msn.com/en-us/money/markets/teen-hacker-and-crew-of-evil-geniuses-accused-of-dollar24-million-crypto-theft/ar-BB13KJxd?ocid=spartandhp |url-status=live }}</ref> Terpin also sued Nicholas Truglia and won a $75.8 million judgment against Truglia in 2019 in California state court.<ref name="www.msn.com" />

On July 15, 2020, Twitter accounts of prominent personalities and firms, including Joe Biden, Barack Obama, Bill Gates, Elon Musk, Jeff Bezos, Apple, Kanye West, Michael Bloomberg and Uber were hacked. Twitter confirmed that it was a coordinated social engineering attack on their own employees. Twitter released its statement six hours after the attack took place. Hackers posted the message to transfer the Bitcoin to a Bitcoin wallet, which would double the amount. The wallet's balance was expected{{according to whom|date=July 2021}} to increase to more than $100,000 as the message spread among Twitter followers.<ref>{{Cite web |date=16 July 2020 |title=Twitter hack: accounts of prominent figures, including Biden, Musk, Obama, Gates, and Kanye compromised |url=https://www.theguardian.com/technology/2020/jul/15/twitter-elon-musk-joe-biden-hacked-bitcoin |access-date=16 July 2020 |website=The Guardian |archive-date=14 July 2022 |archive-url=https://web.archive.org/web/20220714110619/https://www.theguardian.com/technology/2020/jul/15/twitter-elon-musk-joe-biden-hacked-bitcoin |url-status=live }}</ref>

In 2021, US Authorities carried out a raid on James Zhong's home in Gainesville, Georgia. Authorities found over 51,000 bitcoin that Zhong had stolen from Silk Road between 2012 and 2013. Through an error on Silk Road, Zhong was able to withdraw more bitcoin than what was initially deposited. He concealed his identity and was able to evade authorities for nearly a decade. Zhong ended up pleading guilty to wire fraud and was sentenced to 1 year and 1 day in prison along with a forfeiture of all bitcoin.<ref>{{cite web |title=Southern District of New York {{!}} Silk Road Dark Web Fraud Defendant Sentenced Following Seizure And Forfeiture Of Over $3.4 Billion In Cryptocurrency {{!}} United States Department of Justice |url=https://www.justice.gov/usao-sdny/pr/silk-road-dark-web-fraud-defendant-sentenced-following-seizure-and-forfeiture-over-34 |website=www.justice.gov |access-date=12 July 2023 |language=en |date=14 April 2023 |archive-date=10 August 2023 |archive-url=https://web.archive.org/web/20230810034942/https://www.justice.gov/usao-sdny/pr/silk-road-dark-web-fraud-defendant-sentenced-following-seizure-and-forfeiture-over-34 |url-status=live }}</ref>

In 2022, the Federal Trade Commission reported that $139 million in cryptocurrency was stolen by romance scammers in 2020.<ref name="VergeScam">{{Cite web |last=Roth |first=Emma |date=14 February 2022 |title=Romance scammers collected $139 million in crypto last year |url=https://www.theverge.com/2022/2/14/22933056/crypto-romance-scammers-139-million-fraud |access-date=2 March 2022 |website=The Verge |archive-date=1 September 2022 |archive-url=https://web.archive.org/web/20220901154345/https://www.theverge.com/2022/2/14/22933056/crypto-romance-scammers-139-million-fraud |url-status=live }}</ref> Some scammers target dating apps with fake profiles.<ref>{{Cite news |last=Roose |first=Kevin |date=21 February 2022 |title=Crypto Scammers' New Target: Dating Apps |work=The New York Times |url=https://www.nytimes.com/2022/02/21/technology/crypto-scammers-new-target-dating-apps.html |access-date=2 March 2022 |archive-date=12 October 2022 |archive-url=https://web.archive.org/web/20221012192619/https://www.nytimes.com/2022/02/21/technology/crypto-scammers-new-target-dating-apps.html |url-status=live }}</ref>

In early 2022, the Beanstalk cryptocurrency was stripped of its reserves, which were valued at more than {{USD|180 million}}, after attackers had managed to use borrowed {{USD|80 million}} in cryptocurrency to buy enough voting rights to transfer the reserves to their own accounts outside the system. It was initially unclear if such an exploit of governance procedures was illegal.<ref>{{Cite news |last=Hern |first=Alex |date=18 April 2022 |title=Beanstalk cryptocurrency loses $182m of reserves in a flash 'attack' |work=The Guardian |url=https://www.theguardian.com/technology/2022/apr/18/beanstalk-cryptocurrency-loses-182m-of-reserves-in-flash-attack |access-date=18 April 2022 |archive-date=15 October 2022 |archive-url=https://web.archive.org/web/20221015012911/https://www.theguardian.com/technology/2022/apr/18/beanstalk-cryptocurrency-loses-182m-of-reserves-in-flash-attack |url-status=live }}</ref>

In 2025, A Nigerian scammer impersonated Trump ally Steve Witkoff by creating a nearly identical email address to solicit a $250,000 cryptocurrency donation from a political donor intended for the Trump-Vance Inaugural Committee. The donor, deceived by the subtle change in the email domain, transferred 250,300 USDT.ETH, which was quickly laundered through multiple wallets. The FBI, with help from Tether and Binance, managed to recover and freeze about $40,300 of the stolen funds, but over $210,000 remains missing. Officials warn that the complexity of blockchain transactions makes recovering stolen crypto extremely difficult.<ref>{{Cite web |last=Brains |first=Trade |date=2025-07-08 |title=Fake Email Scam: Nigerian Fraudster Tricks Trump Donor, Steals $250,000 |url=https://tradebrains.in/fake-email-scam-nigerian-fraudster-tricks-trump-donor-steals-250000/ |access-date=2025-07-08 |website=Trade Brains |language=en-US}}</ref>

Josh Garza, who founded the cryptocurrency startups GAW Miners and ZenMiner in 2014, acknowledged in a plea agreement that the companies were part of a pyramid scheme, and pleaded guilty to wire fraud in 2015. The U.S. Securities and Exchange Commission separately brought a civil enforcement action against Garza, who was eventually ordered to pay a judgment of {{USD|9.1 million}} plus $700,000 in interest. The SEC's complaint stated that Garza, through his companies, had fraudulently sold "investment contracts representing shares in the profits they claimed would be generated" from mining.<ref>{{Cite news |last=Farivar |first=Cyris |url=https://arstechnica.com/tech-policy/2017/10/bitcoin-fraudster-hit-with-9-1m-civil-judgment-on-top-of-criminal-guilty-plea/ |title=GW Miners founder owes nearly $10 million to SEC over Bitcoin fraud] |date=October 5, 2017 |work=Ars Technica |archiveurl=https://web.archive.org/web/20171229112405/https://arstechnica.com/tech-policy/2017/10/bitcoin-fraudster-hit-with-9-1m-civil-judgment-on-top-of-criminal-guilty-plea/ |archivedate=2017-12-29}}</ref> Garza was later found guilty of fraud and ordered to pay {{USD|9 million}} and begin serving a 21-month sentence commencing January 2019 by the U.S. Attorney's Office District of Connecticut.<ref>{{cite web |title=Former Virtual Currency CEO Involved in $9 Million Fraud Scheme Sentenced to Prison |url=https://www.justice.gov/usao-ct/pr/former-virtual-currency-ceo-involved-9-million-fraud-scheme-sentenced-prison |website=United States Department of Justice, District of Connecticut |date=2018-09-12 |access-date=2025-10-17 |quote=Homero Joshua Garza, 33, of Bloomfield, was sentenced by U.S. District Judge Robert N. Chatigny in Hartford to 21 months of imprisonment followed by three years of supervised release. He was ordered to pay restitution of approximately $9.2 million and to report to prison on January 4, 2019. }}</ref>

The cryptocurrency community refers to pre-mining, hidden launches, ICO or extreme rewards for the altcoin founders as deceptive practices.<ref>{{Cite web |date=August 2013 |title=Scamcoins |url=http://altcoins.com/scamcoins |url-status=live |archive-url=https://web.archive.org/web/20140201051133/http://altcoins.com/scamcoins |archive-date=1 February 2014}}</ref> This is at times an inherent part of the cryptocurrency's design.<ref>{{Cite news |last=Bradbury |first=Danny |date=25 June 2013 |title=Bitcoin's successors: from Litecoin to Freicoin and onwards |work=The Guardian |url=https://www.theguardian.com/technology/2013/jun/25/bitcoin-successors-litecoin-freicoin |url-status=live |access-date=15 February 2023 |archive-url=https://web.archive.org/web/20140110172029/http://www.theguardian.com/technology/2013/jun/25/bitcoin-successors-litecoin-freicoin |archive-date=10 January 2014}}</ref> Pre-mining refers to the practice of generating the currency before its released to the public.<ref>{{Cite news |last=Morris |first=David Z |date=24 December 2013 |title=Beyond bitcoin: Inside the cryptocurrency ecosystem |work=Fortune |url=http://fortune.com/2013/12/24/beyond-bitcoin-inside-the-cryptocurrency-ecosystem/ |url-status=live |access-date=15 February 2023 |archive-url=https://web.archive.org/web/20180127202338/http://fortune.com/2013/12/24/beyond-bitcoin-inside-the-cryptocurrency-ecosystem/ |archive-date=27 January 2018}}</ref>

FTX and Alameda Research founder and CEO Sam Bankman-Fried was indicted by the U.S. District Court for the Southern District of New York in December 2022 and charged with commodities and wire fraud, securities fraud and money laundering, as well as with violating campaign finance laws.<ref>{{Cite web |last=Department of Justice, Office of Public Affairs |date=December 13, 2022 |title=FTX Founder Indicted for Fraud, Money Laundering, and Campaign Finance Offenses |url=https://www.justice.gov/opa/pr/ftx-founder-indicted-fraud-money-laundering-and-campaign-finance-offenses |access-date=15 February 2023 |archive-date=28 December 2022 |archive-url=https://web.archive.org/web/20221228003609/https://www.justice.gov/opa/pr/ftx-founder-indicted-fraud-money-laundering-and-campaign-finance-offenses |url-status=live }}</ref><ref>{{Cite news |date=December 13, 2022 |title=The SBF indictment in full |work=Financial Times |url=https://www.ft.com/content/b3d3da64-3560-4eda-ba99-991d0ecff794 |access-date=15 February 2023 |archive-date=23 December 2022 |archive-url=https://web.archive.org/web/20221223080644/https://www.ft.com/content/b3d3da64-3560-4eda-ba99-991d0ecff794 |url-status=live }}</ref>

In 2025, U.S. authorities led by the Department of Justice and the FBI's San Diego Field Office have seized approximately $2.5 million in cryptocurrency linked to a series of sophisticated fraud schemes. The forfeiture, approved by U.S. District Court, targets criminals who exploited digital financial platforms to defraud victims, often through so-called "confidence schemes." The crackdown involved collaboration with various agencies and support from Tether, a crypto industry company, and aims to both compensate victims and deter future online fraud.<ref>{{Cite web |date=2025-05-25 |title=U.S. Authorities Seize $2.5 Million in Cryptocurrency Linked to Fraud Schemes, San Diego FBI Aids in Crackdown |url=https://hoodline.com/2025/05/u-s-authorities-seize-2-5-million-in-cryptocurrency-linked-to-fraud-schemes-san-diego-fbi-aids-in-crackdown/ |access-date=2025-05-25 |website=Hoodline |language=en}}</ref>

== See also == * {{Section link|Bitcoin network|Alleged criminal activity}} * Computer security * Cryptocurrency bubble * Terrorism financing

== Notes == {{notelist}}

== References == {{Reflist|2}}

== External links == * {{Cite web |last=Zandt |first=Florian |date=31 March 2022 |title=Infographic: The Biggest Crypto Heists |url=https://www.statista.com/chart/12707/largest-known-crypto-currency-thefts/ |website=Statista |language=en}} * [https://wallet-watch.org Wallet-Watch.org]: Non-profit database providing real-time intelligence against crypto fraud and illicit activity.

{{Corruption}} {{Cryptocurrencies}}

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Category:Cryptocurrencies Category:Security Category:Financial crimes