When it comes to cryptocurrency crime globally, North Korea is in the forefront. Through a series of successful hacks, a force of over 7,000 hackers was able to make money for North Korea.
According to a global list of crypto crime published by Coincub on June 27, there have been over 15 cases of crypto crime reported in North Korea, with income pegged at a low of $1.59 billion.
Due to the size of its shadow cryptocurrency economy and the number of high-profile frauds that have been carried out there, the United States is ranked second. There were 14 confirmed cases of traceable crypto crime in the US, with over $2 billion in profits overall.
Russia is ranked third in the world as a result of the massive amount of ransomware that comes from that nation.
Conti, REvil, Ryuk, and Netwalker are just a few of the malware families with infamous reputations that have their roots in this country. According to the report, organized gangs of cyber thieves are frequently tolerated by the Kremlin, if not openly welcomed.
Due to widespread fraud, cryptocurrency exchange hacks, and Ponzi schemes, China ranks fourth in terms of cryptocurrency crime. Furthermore, China is the most profitable nation for fraud, accounting for 18% of all cryptocurrency crime worldwide.
Due to the large amount of cyberattacks and fraudulent schemes that have been carried out within its borders, the United Kingdom ranks fifth on this list.
Due to its loose corporate restrictions, which make it simple for fraudsters to hide the source of money and its intended destination, the UK is a global hub for cryptocurrency fraud. There were 7,118 reported cases of cryptocurrency fraud alone in 2021. Japan, Hong Kong, Canada, the British Virgin Islands, and Seychelles are the final five nations on the list for cryptocrime.
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