According to a report from Crystal Intelligence, nearly $19 billion worth of cryptocurrency has been stolen since 2011, and the industry is still struggling to cope with the increasing number of blockchain-related crimes. The report pointed out that 785 cryptocurrency thefts occurred, including 220 security breaches, 345 DeFi hacks, and 220 fraud schemes.

The largest theft occurred in 2019, when thefts related to the Plus Token Ponzi scheme totaled $2.9 billion. Since then, cryptocurrency crime has continued to surge, with 2023 setting a record for the number of cryptocurrency thefts, with 286 thefts totaling more than $2.3 billion.