RATE Group | Crypto Fraud Losses Reach $4.4B In Q3 2019
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Crypto Fraud Losses Reach $4.4B In Q3 2019

03 Dec Crypto Fraud Losses Reach $4.4B In Q3 2019

Posted at 03:27h in Cryptocurrency News by

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Looking back at 2019, and at cryptocurrencies, we may well make the declaration that fraudsters got a lot more brazen … which may mean 2020 is the year lawmakers and regulators clamp down through a global, concerted effort to root out financial crime.

It’s no secret that privacy and security are the prisms through which authorities have looked, and are looking, at Libra and other digital coins. The backlash against Facebook’s planned cryptocurrency Libra, waged in the spotlight of Capitol Hill, has included calls by lawmakers for a moratorium on the development of the coin and the Calibra digital wallet.

In recent announcements, the numbers have been supporting the argument that cryptos are becoming a favored avenue of theft and fraud. Consider the fact that, as estimated by CipherTrace’s third-quarter report for 2019, the total volume of fraud tied to crypto shows losses in the range of $4.4 billion.

Looking at theft done through the…

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