Delhi Police recently unearthed a cryptocurrency scam estimated at Rs 500 crore, But this was not the first crypto scam of 2022. This represents a growth of 37 per cent compared to 2021.
Some two million people fell prey to 200,000 crypto scams globally between September 2020 and December 1, 2022, reveals a report by New York-based crypto trade surveillance firm Solidus Labs.
Ronin Network — $625 million stolen In March 2022, a hacker stole user funds worth $625 million from the Ronin Network.
The hacker took advantage of weaknesses in the protocol’s validation system to fraudulently generate a large quantity of wrapped Ethereum (WETH), a token with a value tied to the Ethereum coin.
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