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Cryptocurrency Crime and
Anti-Money Laundering Report,
August 2021

The Cryptocurrency Crime and AML Report covers the latest developments and trends in global efforts to counter money laundering, terrorist financing, and ransomware. It also includes updates and year-to-date statistics on cryptocurrency related crime and fraud.

Highlights include:

  • By the end of July 2021, major crypto thefts, hacks, and frauds totaled $681 million
  • At $361 million, DeFi-related hacks make up 76% of major hack volume in 2021
  • DeFi hacks have already increased more than 2.8X from 2020
  • Ransomware actors demand highest ever reported ransom—$70 million— for universal decryption keys as the US Government sets its sights on combating ransomware the same way it combats terrorism
  • Regulators set to accelerate the implementation of the Travel Rule as global financial crime watchdog the Financial Action Task Force (FATF) declares that no jurisdictions reported being aware of any virtual asset service providers that fully complied with all elements of the Travel Rule.
  • The US State Department is offering bounties up to $10 million for information leading to the identification or location of ransomware actors that attack critical US infrastructure.

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