The Reported Number of Stolen BTC Drops by 92% as ‘Bitcoin Security Appears to Be Improving’

The Reported Number of Stolen BTC Drops by 92% as ‘Bitcoin Security Appears to Be Improving’


The number of stolen bitcoins that were publicly reported in 2020 dropped to 4,472 coins or 0.02% of the digital asset’s circulating supply. This new figure represents a 92% drop from the 56,870 reported in 2019. When using current bitcoin prices, the 2020 thefts caused losses that are equivalent to $140 million versus the 2019 equivalent of $1.78 billion.

According to data that was shared by Jameson Lopp, the CTO at Casa, this marked decrease in the number of reported thefts means “bitcoin security appears to be improving.” The CTO also clarifies the meaning of the term “stolen” in the context of reported BTC thefts. Responding to a question on this, Lopp says:

I’d say stolen is: one day you go to check your wallet and the funds aren’t there. I’d count viruses that steal private keys, it’s just harder to aggregate those types of thefts because they tend to be small scale and not get news coverage.

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