More than 30,000 crypto crimes have been reported in the UK in the last 5 years. More than 30,000 crypto crimes have been reported in that country in the last 5 years!
Criminal activity and fraud involving cryptocurrencies have continued to increase exponentially in recent years as more and more people want to join the cryptocurrency wave. Studies have revealed that over 30,000 crypto crimes have been reported in the UK over the past 5 years.
Since 2016, 34,305 criminal activities have been reported using cryptocurrency in the UK alone, representing an average annual growth rate of 100%, according to an in-depth study of crypto crime conducted by Crypto Head.
The study looked at crime data from cryptocurrency-related complaints obtained through Freedom of Information Act requests to see if the situation worsened in the United States, United Kingdom and Australia.
The number of complaints about crypto crimes increased again in 2021, reaching a total of 9,458. Although this 1.243 percent increase from 2016 seems surprisingly high, the annual growth from 2020 to 2021 is much lower than the increase from 2019 to 2020.
Victims of crime in the UK lose over £200m a year
In just one year, victims of crypto crimes in the UK have lost an enormous amount of money, adding more than £204m ($241m).
About 12% of the 9,458 victims in 2021 were between the ages of 18 and 25, making this age range the most targeted.
Most reports came in April, but most money was lost in November. With approximately £23m of damage claimed in 793 complaints, this corresponds to an average of £28,998 per report.
In 2021, 59.8% of victims of crypto crime in the UK are male, while the majority of victims of crypto crime in the UK are male.
Unlike the UK, crypto-related crimes in Australia have actually decreased by 12% over the past year.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.