January 10, 2025

Cryptocurrency criminal cases are rising sharply, the situation is worrying

In 2018, the cryptocurrency market suffered a series of hacking attacks and exit scams because fraudulent activity within the industry seems to be increasing. Although the Trump administration may have recently established a working group to deal with online fraud, a low-tech form of crime seems to be on the rise in the crypto ecosystem-in real life, violent robbery.

The sharp rise in physical bitcoin theft and extortion has been catalogued and classified by Statoshi.info founder Jameson Lopp, who published a detailed list of physical attacks against cryptocurrency holders on GitHub.

Cryptocurrency criminal cases are rising sharply, the situation is worrying

Crypto criminals attack the real world

In the past year, as criminals realize that crypto assets are lucrative and cannot be retrieved once they are taken from their holders, there seems to be a significant increase in robbery and extortion related to cryptocurrencies. .

The encryption-related entity robberies listed by Lopp include a series of attacks on encryption technology infrastructure, such as the theft of Bitcoin ATMs or mining hardware, but encryption attacks on currency owners have increased, and victims have been kidnapped or extorted by encryption technology. Assets, these behaviors are particularly worrying.

Reports from Brazil in May 2017 showed that the number of kidnappers asking for digital currency in exchange for hostages is increasing. The first kidnapping related to crypto assets occurred in 2015. New York firefighter Dwayne Richards kidnapped and robbed $1,100 of cryptocurrency in Russia. Some recent reports in Russia showed that Moscow’s There has been an increase in violent attacks on cryptocurrency holders being persecuted and robbed.

The number of home invasions by cryptocurrency holders is also increasing, and five men in Cumming, Georgia, were arrested for planning to break into the homes of cryptocurrency investors in January 2018. The break-in incident at the home of Synth, the creator of Skycoin, became one of the most famous physical bitcoin thefts in 2018. The perpetrators stole 18 bitcoins.

Although cryptocurrency allows owners to enjoy a wide range of advantages and operate in their own banks, they also require holders to maintain high security standards. Hardware wallets such as Ledger Nano S now integrate the "repudiation" function. Users can use advanced password options to divide access rights between two passwords-one password can access the user's main wallet, the other password You can access hidden accounts, so you can ensure the safety of large funds.

Despite the security provided by hardware wallets, many physical cryptocurrency thefts are due to criminals targeting those victims. The cryptocurrency wealth in their names has been announced, and criminals are very aware of how many assets the victims have.

High-profile targets for cryptocurrency holders and traders

The rise of physical encryption crime can be attributed to the highly fungible nature of cryptocurrencies such as Bitcoin, and that they can easily be taken away from unsuspecting cryptocurrency holders, who in most cases either use In addition to the less secure protection and security technology, or to be outspoken about the benefits of cryptocurrency.

Pavel Makushin, a 23-year-old Russian crypto investor, was found dead in an apartment in St. Petersburg. Criminals took away more than $3 million in cryptocurrency in his home robbery. The cryptocurrency holder Makushin is very high-profile on the investor's YouTube channel, which has more than 20,000 users.

In addition to targeting high-asset individuals in the cryptocurrency ecosystem, criminals seem to be targeting cryptocurrency traders operating on the highly popular LocalBitcoins platform, which facilitates face-to-face cryptocurrency transactions.

In a robbery in Massachusetts on July 6, the local bitcoin trader AuTIn Nedved became the target of a burglary and eventually arrested two suspects. Although the recent attacks on local Bitcoin traders did not cause any asset losses, a Hong Kong trader was lured to participate in a fake trading conference in January 2018 and was robbed of 1.4 million Hong Kong dollars, which emphasized the reality In daily life, the importance of environmental awareness and caution when conducting cryptocurrency transactions.

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