CipherTrace reported that losses from crimes related to cryptocurrencies reached $ 1.9 billion in 2020.

When it comes to crypto crime, we have 2020 vision. Read all about the year that was in our latest Cryptocurrency Crime and Anti-Money Laundering Report. https://t.co/QNPjNUKEA5 #AML #cryptocrime #cryptocurrency #CBDC #DeFi #rugpull #Satoshi #BTC #XMR #ETH #FutureOfMoney pic.twitter.com/8hXG4g4T3V

In 2020, users lost 57% fewer assets than a year earlier. In 2019, the figure was $ 4.5 billion. Despite the same number of crimes, the average amount of damage decreased by 160%.

According to the report, the biggest loss is associated with the Ponzi pyramids. In 2019, the damage from PlusToken was $ 2.9 billion, or 64% of the annual rate. In 2020, according to a similar scheme, WoToken lured from investors $ 1.1 billion, or 58% of losses for the entire year.

More than half of thefts in 2020 are related to the hacking of applications in the decentralized finance (DeFi) sector – $ 129 million. A year earlier, this figure was almost zero. About 99% of the major scams in the second half of the year were DeFi exit scams.

The KuCoin exchange fell victim to the biggest hack of 2020, worth $ 281 million. Most of the stolen funds (84%) were recovered, which CipherTrace called an unprecedented case.