RATE Group | Cryptocurrency Thieves On Track To Steal Over $1 Billion In 2018
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Cryptocurrency Thieves On Track To Steal Over $1 Billion In 2018

14 Oct Cryptocurrency Thieves On Track To Steal Over $1 Billion In 2018

Posted at 11:35h in Cryptocurrency News by

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The total value of stolen cryptocurrency is expected to hit over $1 billion by the end of this year, which represents a 350% increase over the amount that was stolen in all of 2017, according to a new research from CipherTrace.

The U.S cybersecurity firm revealed that during the first three quarters of 2018, $927 million of cryptocurrency was reported as stolen from exchanges by hackers; $166 million was reported stolen since the second quarter, driven by an emerging trend toward more frequent and smaller cyber-attacks by sophisticated thieves.

According to CipherTrace 2018 Q3 Cryptocurrency Anti-Money, a quantitative analysis of all the transactions on the 20 top cryptocurrency exchanges globally, 97% of direct bitcoin payments from identifiable criminal sources were received by unregulated cryptocurrency exchanges.

Nearly 5% of all bitcoin sent to poorly regulated exchanges comes from criminal activity before the money is moved, undetected, into the global financial payments…

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