30 Jan 2019
Cryptocurrencies stolen from exchanges and scammed from investors surged more than 400 percent in 2018 to around $1.7 billion, according to a report from U.S.-based cyber security firm CipherTrace released on Tuesday.
Of the $1.7 billion, the report, which looks at criminal activity in the digital currency market, said $950 million constituted thefts from cryptocurrency exchanges and infrastructure services such as wallets, up nearly 260 percent from $266 million in 2017.
Korea and Japan were home to most of the thefts from exchanges, or 58 percent, throughout 2018.
The numbers on crypto theft surprised many observers given the price declines in digital currencies in 2018.
– By Gertrude Chavez-Dreyfuss, Reuters, 29 January 2019.
Link to Reuters.
Advance your CPD minutes for this content, by signing up and using the CPD WalletFREE CPD Wallet