“In 2019 alone, an estimated $4.26 billion in cryptocurrencies was lost due to hacks, cybertheft, scams, misappropriation or insider fraud, up about 250% from 2018.” Fraudsters have upped efforts to attack cryptocurrencies in recent years.
Fraudsters are using schemes such as: embezzlement, Ponzi schemes, phishing and ransomware.
Unlike other frauds, if a person loses cryptocurrency, there is no recourse or way to recover it.
For how forensic accountants can help, go to: https://blog.aicpa.org/2020/05/cyber-criminals-are-finding-ways-to-steal-your-digital-dollars.html#sthash.Sv5ebunY.dpbs
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