Crypto criminals rake in $4.3 billion in 2019 so far, says new report

Crypto criminals are having a big year, according to the Silicon Valley-based cybersecurity firm CipherTrace.

The firm’s quarterly Cryptocurrency Anti-Money Laundering Report, released today, estimates that total losses of crypto funds due to theft, fraud and other crimes will surpass $4.3 billion in 2019. It’s a figure that puts 2018’s total of $1.1 billion to shame.

CipherTrace’s latest report provides several reasons for this, and includes discussion on various topics surrounding cryptocurrency regulation and customer safety. Over just the last few months alone, hackers and cyberthieves managed to steal roughly $160 million in assorted crypto funds, though this number could be greater, given that cryptocurrencies such as bitcoin have risen in price since the information was first gathered.

Crypto investors have also been victim to several exit scams, which are presently under investigation by legal authorities in North America and abroad. One of the most well-known involves…