Crypto criminals stole $700M from people – often using age-old tricks

20 days ago

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Cryptocurrency theft is uniquely agonizing because stolen funds remain visible on the blockchain but are irretrievable.
Helen and Richard lost $315,000 in Cardano coins after hackers accessed their cloud storage containing wallet details.
Crypto crime surged during the pandemic, with 2025 seeing over $3.4 billion stolen, including $713 million from individual investors.
North Korean hackers and young scammers are prominent in crypto theft, using tactics like social engineering and physical threats ('wrench attacks').
Data breaches and stolen databases enable criminals to target wealthy crypto holders more effectively.
Self-custody of crypto offers freedom but lacks protections, leaving victims like Helen and Richard with no recourse after theft.
Despite risks, some victims remain committed to crypto investing, highlighting the tension between potential gains and security vulnerabilities.

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