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ARTICLE · 07 MAY 2021

Reports Detail Crypto Crime Statistics, $50M Hack, Anti-Cryptojacking Initiative

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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...

United StatesTechnology
Keith R. Murphy
Keith R. Murphy
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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.

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