North Korea Leads the World in Crypto Crime, Coincub.com Report Says

According to a new report from Coincub, North Korea leads the world in crypto crime with more than 15 recorded crypto crime cases, with proceeds conservatively estimated at $1.59 billion. Coincub.com Releases Report on Top 5 Crypto Crime Countries According to a new report from Coincub, around 7,000 hackers from North Korea have raised funds for the DPRK through a series of profitable cyberattacks. The US comes in second place in Coincub.com’s inaugural crypto-crime ranking and had 14 documented instances of attributable crypto crime, with proceeds over $2 billion. Russia qualifies for third place and is the point of origin for infamous malware strains like Conti, REvil, Ryuk, and Netwalker. China places fourth on Coincub’s crypto crime ranking, with an 18% share of the world’s crypto crime volume with its large-scale fraud, exchange hacks, and Ponzi schemes. The United Kingdom takes fifth place and is a global hub for crypto fraud as lax corporate regulations allow fraudsters to obfuscate the source and destination of funds. In 2021 alone, 7,118 cases of crypto fraud were reported. Meanwhile, Japan, Hong Kong, Canada, the British Virgin Islands, and Seychelles were listed among the remaining top 10 countries for crypto crimes. Commenting on the surging crypto crimes, Coincub CEO Sergiu Hamza, said: “While crypto fraud reached an all-time high last year it still represents a small part of the total crypto market at 0.15%. In c...