The crypto industry opens up ample opportunities for speculators, but someone is unaware of its dark side. Crypto exchanges and e-wallets around the world are vulnerable to cybercriminals. In fact, the crypto mafia has been extending the scale of its thefts at an alarming rate. According to official estimates, hackers stole digital currencies worth $4.3 billion last year which is twice as big as the cyber theft size recorded in 2017 and 2018. Interestingly, cybercriminals prefer a certain method of defrauding crypto traders in different years. In 2017, the bulk of assets was swindled at the time of IPOs when new tokens were listed on crypto exchanges. In 2018, lots of crypto investors lost their money as a result of cyber attacks. In 2019, 90% of $4.3 billion was stolen through notorious Ponzi schemes. Such financial pyramids operate on the same principle. They lure people into investing which is supposed to yield high returns immediately. PlusToken is one of such successful Internet scams launched in China. Catchy advertisement and forceful marketing attracted a lot of users who were hooked by guaranteed returns of 6% to 19% per month. Besides, investors were encouraged to receive extra bonuses for referring new clients. Eventually, investors were swindled out of their deposits. Experts at Group-IB warn that the crypto mafia could shift focus towards the world’s largest miners in the near future. Remarkably, miners in some countries could fall prey to pro-government hackers.

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