According to recent estimates, cryptocurrency-based crime reached a new all-time high in 2021, with 14 billion dollars of stolen funds, compared to 7.8 billion dollars in 2020. One of the most common ways to steal money from unsuspecting investors is the so-called “rug pull,” a practice whereby developers build what appears to be a legitimate cryptocurrency investment platform to lure investors in and steal their funds.
Filip Brokes, Senior Analyst at Berlin Risk, published his article on @ACAMS Today – free access to ACAMS Members.