$14 billion in cryptocurrency cases surged last year

The national blockchain technology company "Chain Analysis" released a report on the 6th that cryptocurrency-related crimes will surge in 2021, with the value of cryptocurrencies involved reaching an all-time high of $14 billion, most of which are cryptocurrency fraud or theft cases.

Agence France-Presse quoted the report as saying that illicit transactions in bitcoin and other cryptocurrencies involved a total of $14 billion last year, a 79 percent increase from 2020. The surge in the amount of cryptocurrencies involved is due to the rapid growth in overall cryptocurrency transactions, which totaled $15.8 trillion last year, up 567 percent from the previous year, the report said.

Fraud and theft involving cryptocurrencies surged last year, Reuters reported, citing reports, with more scams defrauding investors of money in the name of issuing new cryptocurrencies. The "Chain Analysis" report shows that the value of fraud involving cryptocurrencies reached $7.8 billion last year, an increase of 82% over 2020; a total of $3.2 billion worth of cryptocurrency was stolen last year, a five-fold increase compared to 2020.