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Crypto investors lost $3.5 billion due to scammers in 2022, the largest losses are associated with the FTX crypto exchange
The global cryptocurrency markets reeled after the collapse of FTX, crypto investors lost about $2 billion.
Cybersecurity and data privacy specialists called the FTX collapse the biggest loss for investors in 2022 in their review. The consequences will affect the crypto markets for many months.
The study says that the five largest exploits in 2022 brought losses of almost $3.5 billion. So, as a result of the collapse of FTX, investors lost $1-2 billion. In second place is the Axie Infinity hack, whose losses amounted to $615 million. closed the Wormhole crypto bridge, which lost $320. JuicyFields.io and Unique-Exchange.co came in fourth and fifth with losses of $273 million and $267 million, respectively.
From January to July 2022, hackers stole $1.9 billion worth of cryptocurrencies, up 37% from the same period in 2021. According to Solidus Labs, attackers in the crypto industry launch up to 15 cryptocurrency frauds per hour.
Basically, scammers prefer Bitcoin (70%), Tether (10%) and Ether (9%). The most popular platforms for attackers were Instagram (32%), Facebook (26%), WhatsApp (9%) and Telegram (7%).
Read also: Cryptocurrency scam: what to watch out for
The total income from cryptocurrency fraud in 2022 is lower than in 2021. However, the situation may change as the year draws to a close. The drop in earnings can be attributed to several factors in the industry.
As of November 2022, the cumulative damage from fraudulent activities amounted to $4.3 billion. This is a 100% increase compared to fraudulent income in 2021. The surge in scam is largely due to the collapse of FTX.
However, despite significant losses, crypto investors are in no hurry to withdraw their investments. Most investors plan to buy more assets in a bear market. Most market participants want to expand their crypto portfolio over the next month, while the rest are not going to take any active steps.
Earlier, the editors found out what to expect from the new wave of crypto winter.
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