The impressive growth of the crypto market has created an opportunity for hackers and scammers. Many investors turning to digital coins as a store of value in the midst of the COVID-19 crisis have been scammed to a total amount of $1.9 billion.

Crypto-criminals stole $1.9 billion in 2020 according to data presented by Finaria.it. Compared to the year, 2019, this amount is in sharp decline. Statistics show that fraud was last year's top crypto crime, followed by theft and ransomware.
Although the total value of crypto-crime dropped in 2020, crypto theft jumped 40% year-on-year and reached $513 million, below the record of $950 million recorded in 2018. The investigation found that hacks and scams related to decentralized finance (DeFi) accounted for $129 million in 2020, making it the next major threat vector for fraud and money laundering. Other thefts caused $387 million in damage.