6 of the biggest crypto heists of 2021

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Photo: OZAN KOSE / AFP (Getty Images)

Ahh, crypto. We’ve all heard the alluring and utopian platitudes sung by digital currency evangelicals: It’s changing the world (or, as BitConnect once said, “the world isn’t what it used to be!”)! It revolutionizes finance (no more banks)! It’ll make you rich, you idiot! It’s all good. Yet here’s the other thing he’ll likely do: empty your pockets and leave you hanging out on the streets of the nearest town, singing the blues about the days when a hacker stole your savings.

It’s no secret that fraud and theft are common occurrences in the cryptocurrency industry. Reports from various watchdog groups have shown that the largely unregulated landscape of digital finance is teeming with crime because, duh, that’s what happens in unregulated industries. Add to that the diffuse cybersecurity weaknesses of the crypto infrastructure, the hordes of money-hungry cybercriminals scouring the internet for a hot unsecured wallet or zero-day exchange, and what have you got? is a perfect recipe to make you steal your poop.

It’s also evident that scams and thefts seem to be getting worse, not better. According to a study published by Crypto Head in August, this year has been one of the worst on record for cryptocurrency hacking and theft, with some 32 incidents reported, the equivalent of which stands at around 2, $ 99 billion in associated losses. This is apparently up from last year’s numbers, which themselves were a 40% increase from incidents reported in 2019. And, since the Crypto Head report was released, a handful of hacks have The exchange continued to prove that his central thesis was correct.

With that in mind, here’s a look back at six of the biggest crypto scams of 2021.

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