{"id":35584,"date":"2021-01-29T14:46:07","date_gmt":"2021-01-29T12:46:07","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35584"},"modified":"2025-08-29T01:58:48","modified_gmt":"2025-08-28T22:58:48","slug":"ciphertrace-puts-2020-losses-from-crypto-scams-and-hacks-at-1-9-billion","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ciphertrace-puts-2020-losses-from-crypto-scams-and-hacks-at-1-9-billion\/","title":{"rendered":"CipherTrace puts 2020 losses from crypto scams and hacks at $1.9 billion"},"content":{"rendered":"<p>Losses from crimes related to cryptocurrencies last year reached $1.9 billion. The figures are outlined in a new report from CipherTrace.<!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">When it comes to crypto crime, we have 2020 vision. Read all about the year that was in our latest Cryptocurrency Crime and Anti-Money Laundering Report. <a href=\\\"https:\/\/t.co\/QNPjNUKEA5\\\">https:\/\/t.co\/QNPjNUKEA5<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/AML?src=hash&#038;ref_src=twsrc%5Etfw\\\">#AML<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/cryptocrime?src=hash&#038;ref_src=twsrc%5Etfw\\\">#cryptocrime<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/cryptocurrency?src=hash&#038;ref_src=twsrc%5Etfw\\\">#cryptocurrency<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/CBDC?src=hash&#038;ref_src=twsrc%5Etfw\\\">#CBDC<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/DeFi?src=hash&#038;ref_src=twsrc%5Etfw\\\">#DeFi<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/rugpull?src=hash&#038;ref_src=twsrc%5Etfw\\\">#rugpull<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/Satoshi?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Satoshi<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\\\">#BTC<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/XMR?src=hash&#038;ref_src=twsrc%5Etfw\\\">#XMR<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&#038;ref_src=twsrc%5Etfw\\\">#ETH<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/FutureOfMoney?src=hash&#038;ref_src=twsrc%5Etfw\\\">#FutureOfMoney<\/a> <a href=\\\"https:\/\/t.co\/8hXG4g4T3V\\\">pic.twitter.com\/8hXG4g4T3V<\/a><\/p>\n<p>\u2014 CipherTrace (@ciphertrace) <a href=\\\"https:\/\/twitter.com\/ciphertrace\/status\/1354881432095698946?ref_src=twsrc%5Etfw\\\">January 28, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><br \/>\nIn 2020, losses from crypto-related crimes were 57% lower than in the year before. In 2019, the figure stood at $4.5 billion. Despite the same number of offenses, the average loss per incident fell by 160%.<\/p>\n<div id=\\\"attachment_123414\\\" style=\\\"width: 1253px\\\" class=\\\"wp-caption alignnone\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-123414\\\" class=\\\"wp-image-123414 size-full\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/image1-401.png\\\" alt=\\\"CipherTrace puts 2020 losses from crypto scams and hacks at $1.9 billion\\\" width=\\\"1243\\\" height=\\\"939\\\" srcset=\\\"https:\/\/forklog.com\/wp-content\/uploads\/image1-401.png 1243w, https:\/\/forklog.com\/wp-content\/uploads\/image1-401-300x227.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/image1-401-1024x774.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/image1-401-768x580.png 768w\\\" sizes=\\\"auto, (max-width: 1243px) 100vw, 1243px\\\" \/><\/p>\n<p id=\\\"caption-attachment-123414\\\" class=\\\"wp-caption-text\\\">Data: CipherTrace.<\/p>\n<\/div>\n<p>The largest hack of 2020, worth $281 million, was the KuCoin exchange. A large portion of the stolen funds (84%) <a href=\"https:\/\/forklog.com\/en\/news\/kucoin-returns-84-of-280-million-stolen-in-september\">was recovered<\/a>, which CipherTrace called unprecedented.<\/p>\n<p>Last year, U.S. exchanges transferred $41.2 million in bitcoin directly to criminals. 84% of inter-exchange transactions in bitcoin were cross-border transfers. Of these, one third went to an exchange with lax identity verification procedures.<\/p>\n<blockquote class=\\\"wp-embedded-content\\\" data-secret=\\\"1rSczKksAT\\\">\n<p><a href=\"https:\/\/forklog.com\/en\/news\/the-major-hacks-of-2020-defi-exchanges-and-defi-again\">The big hacks of 2020: DeFi, exchanges and DeFi again<\/a><\/p>\n<\/blockquote>\n<p><iframe loading=\\\"lazy\\\" class=\\\"wp-embedded-content\\\" sandbox=\\\"allow-scripts\\\" security=\\\"restricted\\\" style=\\\"position: absolute; visibility: hidden;\\\" title=\\\"\u201cThe big hacks of 2020: DeFi, exchanges and DeFi again\u201d \u2014 ForkLog\\\" src=\\\"https:\/\/forklog.com\/exclusive\/glavnye-vzlomy-2020-goda-defi-birzhi-i-snova-defi\/embed#?secret=2gHHbzDCDj#?secret=1rSczKksAT\\\" data-secret=\\\"1rSczKksAT\\\" width=\\\"500\\\" height=\\\"282\\\" frameborder=\\\"0\\\" marginwidth=\\\"0\\\" marginheight=\\\"0\\\" scrolling=\\\"no\\\"><\/iframe><\/p>\n<p>Chainalysis notes that in 2020 the share of crime-related cryptocurrency transactions fell to $10 billion.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Losses from crypto-related crimes last year reached $1.9 billion, according to a new CipherTrace report.<\/p>\n","protected":false},"author":1,"featured_media":35585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1911,1154,1145,1163],"class_list":["post-35584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cipher-trace","tag-crimes","tag-market-analysis","tag-ponzi-schemes"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/35584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=35584"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/35584\/revisions"}],"predecessor-version":[{"id":35586,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/35584\/revisions\/35586"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/35585"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=35584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=35584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=35584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}