The median amount of funds sent to fraudulent smart contracts was only $94. For comparison, in 2017, the same figure was $144.
200 most profitable fraudulent schemes by type (2017-2018)
Moreover, the median amount of fraudsters’ income in 2017 was $6,500, while in 2018 the same figure was $2,440. In addition, in 2017, only 49 illegal schemes brought their organizers less than $100, but in 2018 this figure rose to 181, of which 65 “earned” less than $10.
Nevertheless, even if fraudulent schemes using Ethereum have become generally less profitable, some of them have brought their authors millions of dollars. The peak activity of this small group of inventive criminals at the same time occurred in the second half of 2018.
“What to do? Users need to protect themselves from various types of fraudulent schemes along with changing market conditions. When prices are low, the number of Ponzi schemes increases, and when prices rise, you need to be attentive to possible phishing,” the researchers write.
