Relationship Between Cryptocurrency And Cybercrime Training Ppt

Slide 1

This slide addresses cybercrime related to cryptocurrencies. Cryptojacking is a type of cybercrime that targets cryptocurrencies, and it involves hijacking a victim's resources and using them to hash and mine cryptocurrency.

Slide 2

This slide highlights some of the major cryptocurrency thefts. Scams, theft, and fraud cost the cryptocurrency industry roughly $1.7 billion in 2018. The sum of such losses increased to US$1.2 billion in the first quarter of 2019. Qubit Finance (DeFi) lost roughly $80 million in Binance Coin on January 27, 2022, due to a fault in the smart contract that allowed withdrawal of the amount in exchange for a deposit of 0 ETH.

Slide 3

This slide talks about thefts that took place on the Bitcoin blockchain. Many examples of bitcoin theft have been reported. Around 980,000 bitcoins had simply been lost on cryptocurrency exchanges as of December 2017, accounting for over 5% of all bitcoins in circulation.

Instructor’s Notes: One kind of theft happens when a third party gains access to the private key of a victim's bitcoin address or online wallet. In this case, all bitcoins from the compromised address can be moved if the private key is stolen. The network cannot identify the criminal, block further transactions with the stolen bitcoins, or return these to their rightful owner.

Slide 4

This slide highlights examples of fraudulent activities relating to cryptocurrency. Josh Garza, who created the cryptocurrency enterprises GAW Miners and ZenMiner in 2014, admitted that the companies were part of a pyramid scheme.