Chainalysis, a blockchain analysis company, recently issued its "2021 Crypto Crime Report" in which it concludes that cryptocurrency thieves are relying on a surprisingly small number of service providers to liquidate their stolen assets. Among other statistics, the report states that 55% of all funds moved from illicit addresses are run through only five fund-receiving services, and with respect to money laundering activity, just 1,867 deposit addresses received 75% of all cryptocurrency value from illicit addresses.
This week, an automated market maker platform on the Binance Smart Chain revealed that its token migration event had been targeted by a hacker, resulting in a loss of approximately $50 million in bitcoin, ether and Binance coin, among other cryptocurrencies. This is the second hack of the market maker platform this month, according to the report.
A major chip manufacturer and one of the largest multinational technology companies recently announced a collaboration to advance endpoint detection and response to address advanced threats, such as cryptojacking malware, through greater integration of the chip company's threat detection technology. According to a press release, the initiative is aimed at combating a growing shift in cybercrime from ransomware to cryptojacking.
For more information, please refer to the following links:
- 270 Service Deposit Addresses Drive 55% of Money Laundering in Cryptocurrency
- $50M reportedly stolen from BSC-based Uranium Finance
- Intel Collaborates with Microsoft against Cryptojacking
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
