United States: Reports Detail Crypto Crime Statistics, $50M Hack, Anti-Cryptojacking Initiative
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Chainalysis, a blockchain analysis company, recently issued its “2021 Crypto Crime Report” in which it concludes that
cryptocurrency thieves are relying on a surprisingly small number
of service providers to liquidate their stolen assets. Among other
statistics, the report states that 55% of all funds moved from
illicit addresses are run through only five fund-receiving
services, and with respect to money laundering activity, just 1,867
deposit addresses received 75% of all cryptocurrency value from
illicit addresses.
This week, an automated market maker platform on the Binance
Smart Chain revealed that its token migration event had been
targeted by a hacker, resulting in a loss of approximately $50
million in bitcoin, ether and Binance coin, among other
cryptocurrencies. This is the second hack of the market maker
platform this month, according to the report.
A major chip manufacturer and one of the largest multinational
technology companies recently announced a collaboration to advance
endpoint detection and response to address advanced threats, such
as cryptojacking malware, through greater integration of the chip
company’s threat detection technology. According to a press
release, the initiative is aimed at combating a growing shift in
cybercrime from ransomware to cryptojacking.
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