While 20 saw a similar number of thefts, hacks, and fraud, the average value taken by criminal actors in 2019 was 160% higher than in 2020, indicating maturity in the crypto space as entities continue to harden systems and take precautions against inside and outside threats. While major fraud volume saw a significant decrease, it still made up 73% of 2020’s crime total. 2020 saw WoToken, a similar scheme operated by some of the same people as PlusToken, defraud investors out of $1.1 billion in its exit scam-58% of 2020’s major crime volume. In 2019, the Ponzi scheme PlusToken netted $2.9 billion with its exit scam- 64% of the year’s major crime volume. Massive exit scams have dominated cryptocurrency crimes in the last two years. CipherTrace’s 2020 Cryptocurrency Crime and Anti-Money Laundering Report reveals that in 2020, major crypto thefts, hacks, and frauds totaled $1.9 billion-the second-highest annual value in crypto crimes yet recorded.
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