News emerged overnight of the potential theft of more than US$326 million of Ethereum tokens from a blockchain bridge (which connects two blockchains so cryptocurrency can be exchanged between them).
It’s no surprise. Crypto crime has been on the rise – especially since the pandemic began. How are these crimes committed? And what can you do to stay ahead of scammers?
There are two main ways criminals obtain cryptocurrency: stealing it directly, or using a scheme to trick people into handing it over.
In 2021, crypto criminals directly stole a record US$3.2 billion (A$4.48 billion) worth of cryptocurrency, according to Chainalysis.