{"id":737811,"date":"2022-01-06T16:01:19","date_gmt":"2022-01-06T16:01:19","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/01\/06\/report-crypto-crime-hits-all-time-high-in-2021\/"},"modified":"2022-01-06T16:01:19","modified_gmt":"2022-01-06T16:01:19","slug":"report-crypto-crime-hits-all-time-high-in-2021","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/01\/06\/report-crypto-crime-hits-all-time-high-in-2021\/","title":{"rendered":"Report: Crypto crime hits all-time high in 2021"},"content":{"rendered":"

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Jan. 6 (UPI) —<\/span> Cryptocurrency crime hit an all-time high in 2021 with illicit addresses receiving $14 billion throughout the year, according to new data from blockchain analytics from Chainanalysis.<\/p>\n

The number rose from $7.8 billion the year prior. A spike in theft and scams has resulted in a 79% rise in crypto-related crimes.\n<\/p>\n

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Total transaction volume grew to $15.8 trillion in 2021, a jump of 567% from the year before. Of that, transactions involving illicit addresses made up 0.15% of the total volume.<\/p>\n

Scamming was the greatest form of crypto-based crime, followed by theft.<\/p>\n

Chainanalysis said that DeFi is one of the most exciting areas of the cryptocurrency ecosystem, but ripe for scamming and theft.<\/p>\n

DeFi transaction volume grew 912% in 2021. DeFi is a sector of the crypto market that cuts out middlemen from traditional financial transactions.<\/p>\n

Banks and lawyers are replaced by code called a smart contract, which is written on a public blockchain such as ethereum.<\/p>\n

The code then executes when the right conditions are met, though experts caution that there are code vulnerabilities in some newly launched protocols that hackers can exploit.<\/p>\n

Though cryptocurrency is at an all-time high, legitimate crypto activity is outpacing criminal usage, Chainanalysis said.\n<\/p>\n

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Jan. 6 (UPI) — Cryptocurrency crime hit an all-time high in 2021 with illicit addresses receiving $14 billion throughout the year, according to new data from blockchain analytics from Chainanalysis. The number rose from $7.8 billion the year prior. A spike in theft and scams has resulted in a 79% rise in crypto-related crimes. Advertisement […]<\/p>\n","protected":false},"author":1,"featured_media":737812,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[],"class_list":["post-737811","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/737811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=737811"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/737811\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=737811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=737811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=737811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}