Topic: [2018-1-25]Ethereum-Based Scam Revenue More Than Doubled in 2018 (Read 126 times)

I bet 36$ million is too small of total scams from ICO itself in 2018, there are many scam ICO that manage to collect funds with millions of $$$.
Here are some of them.

https://bitcoinexchangeguide.com/top-5-biggest-2018-ico-scams-ponzi-schemes-crypto-thefts-hacks-so-far/
https://www.valuewalk.com/2018/09/10-biggest-ico-scams/

Of course, no one doubts that the fraudsters ’ICO fraud projects in 2018 amount to tens of millions of dollars. All investor funds for ICO projects are mainly collected in ethereum. I even thought that this figure would be much higher.
Successes from phishing attacks will fall, because users learn both from their own and others' mistakes. People already know more about this method of fraud, and to avoid them is not so difficult.

The value of Ethereum (ETH) stolen via scams reached $36 million 2018, according to a report released by crypto analytics company Chainalysis on Jan. 23.
According to the Chainalysis report, scams that occurred last year were reportedly more sophisticated, bigger and vastly more lucrative. Chainalysis also reports that Ethereum has “long been known as the cryptocurrency of choice for scams.”
Chainalysis reports that the value of stolen funds more than doubled in 2018, compared to the $17 million in ETH obtained through scams in 2017. The increase in profits occurred despite the fact that the number of scams declined compared to the previous year.

From late 2016 to the end of 2018, the report found that over 2,000 Ethereum scam addresses received funds from almost 40,000 unique users. The report also states that nearly 75 percent of this scam activity happened in 2018 alone.
The most common types scams involving ETH, as Chainalysis reports, are initial coin offering (ICO) “exit scams,” Ponzi schemes and phishing attacks, the last of which accounted for over 88 percent of scam profits in 2017. Infection scams that involved ETH are reportedly less common, making up 3.8 percent of 2017’s scam revenue.
As Chainalysis reports, the nature of 2018’s scam activity was different when compared to previous years. Phishing attacks in particular reportedly became less effective when compared to previous years, though 2018 saw more of them.

Source: https://cointelegraph.com/news/ethereum-based-scam-revenue-more-than-doubled-in-2018-report