In a report published by ImmuneFi, the company estimated total crypto losses in 2021 at over $10.2 billion. Most of these losses came from crypto scams, hacks, and several other malicious activities. Moreover, the report highlights a 137% increase in hacks and scams compared to 2020.

The report further states that there were 120 instances of crypto scams and fraudulent rug-pulls in 2021. The most prominent of these scams was a $613 million scam on the Poly Network. Other popular scams include hacks to the Venus and BitMart exchange, with both exchanges losing $200 million and $150 million, respectively.

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