South Korean Uppsala Seucrity’s Crypto Incident Response Center (CIRC) has issued its 2022 CIRC Statistical Report. The respective report takes into account the submissions obtained straight from the South Korean people who became victims of the crimes related to virtual assets. Keeping that in view, the report provides significant insights into the trends as well as the effect of the respective events in the whole country.
Uppsala Security-based CIRC’s Latest Report Claims Romance-based Scams to Be Most Prevalent in 2022
In the previous year, almost 500 reports were received by Uppsala Security regarding scams related to virtual assets. These frauds reportedly resulted in a loss of approximately 52.4B KRW. The mostly impacted digital tokens took into account Ethereum (ETH) and ERC-20-based tokens. On the other hand, Bitcoin’s rank was 3rd coming after these two.
The report pointed out that romance-based frauds were the most prominent among the scams as they accounted for almost 30% of the entirety of the reported events. The 2nd spot in this respect was occupied by the incidents dealing with the drainage of private keys of the crypto wallets. Such incidents accounted for nearly 22%. At last, ICO investment scams accounted for up to 17%.
Contrarily, CIRC mentioned that email and social media-focused phishing scams had been the most prominent fraud types during the year 2021. Nonetheless, a 10% increase was witnessed in romance-based frauds in 2022 in comparison with 2021.
476.9B KRW Was Drained in Virtual Assets in 1,671 Reported Incidents, Says CIRC’s Report
As of 2023’s February, the cumulative sum of nearly 1,671 incidents was reported with a loss of almost 476.9B KRW in virtual assets, as per Uppsala Security. The CIRC of Uppsala Security issued a tracking report about virtual assets that can be utilized as proof for verifying the cases that the victims reported.
