At Least Crypto Crime Has Dropped
But scams are still a major problem.
No surprise—but scammers stole more than $3.5 billion in crypto in 2022.
It was the worst year for crypto heists in the market’s history.
But revenue is down this year for these crooks.
They’ve gotten away with about $905 million this year. Still, according to data presented by AltIndex.com, crypto criminals have stolen more than $10bn to date, despite crypto crime slowing down.
So far, there have been 718 reported heists since 2009. Only one-fifth of the stolen funds, or $2.6bn, have been recovered, with the average recovery time of roughly 75 days.
Something to ponder—and another reminder about why security is so important for crypto investors, even during this major market downturn. Make sure you guard your password, use two-factor authentication, and that you use trusted storage.
Don’t let down your guard just because the market seems quiet. There are still people out there trying to separate you from your money.
Don’t let them succeed.
Plus…
The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.