Chasing Crypto Criminals

“I’m a student. I’ve spend my whole money and send that to these wallet. After that I found that it’s a scam. Please help me for God sake. This money was my whole property. I have nothing now.”

So far we have been able to confirm 38 million US dollar in bitcoin alone stolen by scammers over the past 4 years (excluding Ponzi schemes, which are a billion dollar industry on their own), 24 million of which during the first 6 months of 2020. Some of the most successful scams made over $130,000 in a single day with nothing more than a one page website, a bitcoin address and a decent amount of YouTube advertising. Another managed to rake in over $1.5 million US dollars over the course of 6 months (and is still going strong) promoting a fake exchange with an amateurish website riddled with spelling errors. The scam market is characterized by high profits, no taxes, minimal effort and zero risk and by the end of 2020 we predict it will have grown over twenty fold since 2017 to an annual revenue of at least 50 million US dollars.

Figure: Total Scam Revenue Per Year (Until the First Half of 2020, Excluding Ponzi Schemes)
Figure: Total Revenue Giveaway vs Reported Scams (Until the First Half of 2020)
An Example of an Image Used by Scammers to Deceive Their Victims



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Whale Alert

Whale Alert


The worlds largest blockchain tracking and analytics provider.