Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

$5,200,000,000 Worth of Bitcoin Potentially Linked to Ransomware Payments in First Half of 2021: FinCEN

by Daily Hodl Staff
October 18, 2021
in Regulators, Scams, Schemes and Hacks

The Financial Crimes Enforcement Network (FinCEN) says that over $5 billion worth of Bitcoin (BTC) could have been used to make ransomware payments in the first half of 2021.

In a new report analyzing data from January to June 2021, FinCEN scanned hundreds of different crypto wallets used to make ransomware payments and found that bad actors potentially collected $5.2 billion in BTC.

“FinCEN identified and analyzed 177 unique convertible virtual currency (CVC) wallet addresses used for ransomware-related payments associated with the 10 most commonly reported ransomware variants in SARs (suspicious activity reports) during the review period.

Based on blockchain analysis of identifiable transactions with the 177 CVC wallet addresses, FinCEN identified approximately $5.2 billion in outgoing BTC transactions potentially tied to ransomware payments.”

According to the report, the amount of suspicious activity reports relating to ransomware has exploded this year. Should the trend continue, there will be more ransomware-related SARs in 2021 than in the last 10 years combined.

“The total U.S. dollar value for ransomware-related transactions reported in SARs filed during the review period exceeds that of any previous year since 2011.

In the first six months of 2021, FinCEN identified $590 million in ransomware-related SARs, a 42% increase compared to a total of $416 million for all of 2020.

If current trends continue, SARs filed in 2021 are projected to have a higher ransomware-related transaction value than SARs filed in the previous 10 years combined, which would represent a continuing trend of substantial increases in reported year-over-year ransomware activity.”

Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Zapp2Photo

Submit a Press Release

Industry Announcements

  • Kriptomat Makes Automated Trading Available to All
    May 24, 2022
  • Spritz Finance Raises $2.5 Million in Pre-Seed Funding
    May 24, 2022
  • Bored.Ai Opens Text2Art Minting for the First Time
    May 24, 2022
  • Nitro League Releases Updated Roadmap To Launch Its Racing Metaverse
    May 24, 2022
  • Crypto Derivative Traders Can Access TradingView With Broker Eightcap
    May 24, 2022
  • DeFiChain Forms Technical Committee To Further Decentralize the Consensus Code Governance
    May 23, 2022
  • LongHash Ventures Partners With Protocol Labs To Launch the Third LongHashX Accelerator Filecoin Cohort
    May 23, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$29,582.00
$29,582.00
1.11%
Ethereum
$1,959.10
$1,959.10
0.36%
Cardano
$0.513276
$0.513276
0.1%
XRP
$0.402557
$0.402557
0.17%
Dogecoin
$0.082825
$0.082825
0.79%

Spotlight

  • Crypto Analyst Warns Six Factors Will Drive Bitcoin (BTC) Prices Lower in the Coming Days
    May 20, 2022
  • Two Ethereum Challengers Gearing Up for Rallies As Crypto Looks Turbo Bullish: Top Analyst
    May 23, 2022
  • Ripple Signs New Partnership With International Money Transfer Firm To Use XRP for Cross Border Payments
    May 18, 2022
  • US Lawmaker Introduces Bill To Protect Bitcoin (BTC) 401(k) Investments
    May 21, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl