CryptoCurrency Detective - TopAsiaFX

029, Dec 2021

Today I'd like to talk about a rather unexpected topic - how people steal and abuse cryptocurrencies, about cases of robberies and violence, and the new website listing crimes associated with cryptocurrencies.


As with any market, there is a white and black cryptocurrency market. Organizations to combat cybercrime are trying their best to identify the organizers of shadow sites for the sale of weapons and drugs, but they are not always successful.

Over the past 6 months, the number of transactions on the black market has increased several times. The number of crimes is growing. Before, we only talked about hacks or viruses, but now there have been cases of direct robbery, kidnapping of people (owners of cryptocurrency), and even murder. The legislation is imperfect, and therefore it may be difficult to bring the criminals to justice. In this article, I will tell you about these issues, as well as the violence and security methods.

The black market of cryptocurrency: crime on the cryptocurrency market

Can we actually call cryptocurrency money? We can to some extent because it is an exchangeable equivalent of real fiat money (and not only US dollars). Some people will even sell real estate and cars for BTC. And it may sound cruel, but some people will hurt and kill for BTC.


The explosive growth of cryptocurrencies has increased the number of people willing to get easy prey without thinking twice about the moral side of this issue. Account hacking, real money laundering, kidnapping, and threats - the attackers will do almost anything to get BTC. Read on for examples and tips on how to avoid it.

Cryptocurrency detective: how cryptocurrency is stolen and abused

The ingenuity of cryptocurrency fraudsters has no limits. According to Chainalysis, in 2017, fraudsters managed to steal about 10% of the money invested in the ICOs. Total losses amounted to about 225 million US dollars. They use various methods:

  • Theft of powerful processors in companies and unauthorized use of office computers for mining.

  • Fishing - the creation of clone websites of exchanges and wallets, through which hackers get access to personal data.

  • Use of viruses.

  • Human factor. Abusing the low cryptocurrency literacy of people, fraudsters sell them nothing for real money.

Interesting fact: not only have cryptocurrencies become the object of theft but equipment as well. There were cases when thieves stole processors and video cards. Some are more sophisticated - they use office computers for their own purposes.

For example, in the subsidiary structure of the Transneft Diascan Corporation, traces of programs involved in the mining of Monero were found. The complexity of the situation is that this is not a criminal offense, because the worst-case scenario for the violator is being fired. Continue reading on LiteFinance.