Six of 2021’s Most Massive Crypto-Heists

<p>Cryptography, eh? We've all heard digital currency evangelicals sing seductive, utopian platitudes: It is altering the world (or, as one BitConnect employee put it, "The world is no longer as it once was!")! It is reshaping finance (no banks required)! It's going to make you filthy rich, you moron! All of this is excellent. However, here's what it's likely to do: Empty your pockets and abandon you to wander the streets of the nearest city, singing the blues about how a hacker stole your life savings. </p> <p>It's a well-known fact that cryptocurrency fraud and theft are prevalent in the industry. Numerous reports from various watchdog organisations have demonstrated that the largely unregulated landscape of digital finance is rife with criminal activity, which is to be expected in unregulated industries. Add to that the pervasive cybersecurity flaws in crypto infrastructure, the hordes of money-hungry cybercriminals scouring the internet for an unsecured hot wallet or exchange zero-day vulnerability, and you have the perfect recipe for getting your shit robbed. </p> <p>Additionally, it is abundantly clear that ripoffs and theft appear to be worsening, not improving. According to a study published in August by Crypto Head, this year was one of the worst on record for cryptocurrency hacks and robberies — with 32 incidents reported and associated losses totalling approximately $US2.99 billion ($4 billion-ish). That appears to be an increase over last year's figures, which were a 40% increase over the reported incidents for 2019. And, since the publication of Crypto Head's report, a smattering of exchange hacks has served to confirm the report's central thesis. </p> <p>In that vein, here are six of the biggest cryptocurrency scams of 2021. </p> <p>BadgerDAO </p> <p>As expected, December has been a busy month for cryptocurrency thieves. Indeed, a few weeks ago, BadgerDAO, a decentralised finance platform, was ripped off. According to the platform's blog post, on Dec. 2, an unknown party gained access to a numb