The research proves how millions of dollars continue to go missing daily in crimes related to cryptocurrency. Moreover, researchers have also provided hints as to how the number of this crime continues to multiply, reaching a new high in the past year.
Today, investors are actually at a loss when putting bets on digital currency as they could lose as much as $12 billion in just 2022. However, the report has released a warning about how it might not get better anytime soon with fears of the problem multiplying in 2023.
One team located at Chainplay noted how investors in the world of crypto globally had figures as high as $30 billion stolen over the last ten years. And then in 2022, some major crime incidents reached a high of 436, which is almost quadrupled that seen in 2021.
But with time, the figure continues to rise and we could be witnessing a rise entailing 46% between 2021 and 2022. So when you actually come to think of it, that’s nearly a theft worth $12 billion in just 2022 alone. And to be more specific, we’re talking about cryptocurrency disappearing each hour from users’ accounts.
The study has also noted how certain periods are more vulnerable to crime in the crypt world than others. For instance, you might not want to invest during the summertime, June in particular.
There has been a huge rise in incident reporting during this period. More digital crimes that end up stealing crypto took place in June than any other month of the year in the past decade, the study’s researchers noted.
There is just one exception that can be found, and that’s May when thieves ran away with nearly $5.7 billion and that stood for a fifth of the crypto lost since figures were recorded in 2012.
The study did explain how Turkish investors lost a staggering $2 billion in crypto-related scams while around $23 billion of the funds stolen was through unidentified sources. But you must be wondering how can something like this take place.
See, the answer is quite simple. It’s like people adore making digital money and with currencies like Bitcoin and Ethereum at an all-time high, they love how it's encrypted and has been decentralized in terms of exchange mediums.
The problem has to do with how currencies like Bitcoin are not anonymous. They do mask the user’s identity but with the right tools in place, experts reveal how the identity can be shown.
However, if you think you have lost your funds through a crypto scam, the chances of you getting them back are little to none. These types of centralized endeavors are huge targets for robbers in the cyber world.
They make use of the most updated means to carry out such malicious campaigns that really leave investors and experts dumbfounded.
Read next: Privacy Concerns In The Online World Continue To Instill A Trust Gap Among Brands And Consumers
by Dr. Hura Anwar via Digital Information World
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