How cryptocurrency is becoming a mainstay for cybercriminals worldwide

As cryptocurrency gains wider acceptance, it is becoming the mainstay for cybercriminals. They often conduct their illegal activities outside of the public blockchain ("off-chain"), but when they need to move or "launder", they transfer money on to the blockchain ("on-chain"), according to the ‘2025 Crypto Crime Report’ by Chainanalysis, a blockchain data platform.  India had its largest crypto theft last year when currencies worth $230 million were stolen from wallets linked to WazirX exchange, according to news reports. 

 

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Sources: Reports by Coinswitch & Chainanalysis, news, press releases