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Revenue from crypto scams spike 81% to a near-record $7.7 billion in 2021, says Chainalysis
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Cryptocurrency scammers worldwide pulled in nearly $8 billion in revenue in 2021, led by a relatively new tactic called «rug pulls,» according to Chainalysis.
Revenue from scams jumped by 81% from a year ago to $7.7 billion in cryptocurrency, the blockchain data platform said Thursday in a blog post that will be part of its larger Crypto Crime report coming in 2022.
«As the largest form of cryptocurrency-based crime and one uniquely targeted toward new users, scamming poses one of the biggest threats to cryptocurrency's continued adoption,» said Chainalysis.
This year's revenue surge was propelled in part by the emergence of «rug plugs» that leave investors in crypto-projects empty-handed.
They have become the
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