RATE Group | Cryptocurrency worth of $4.4 billion stolen in 2019
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Cryptocurrency worth of $4.4 billion stolen in 2019

28 Nov Cryptocurrency worth of $4.4 billion stolen in 2019

Posted at 10:23h in Cryptocurrency News by

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  • This quarter saw the reduction of losses to scams and hacks.
  • Only one-third of the top exchanges have strong KYC procedures.

Hackers and cyber thieves ran away with over $4.4 worth of cryptocurrency since the beginning go the year, according to the 3Q report on cryptocurrency-related crimes, published by CipherTrace.

The experts of the research company found out that hackers stole digital assets to the tune of $6.5 million from cryptocurrency exchanges. Another $8 million were lost to various cryptocurrency scammers and fraudsters. While this is the lowest quarterly figure in the recent two years, the year-to-date losses are significantly higher from what was registered in 2018 ($4.4 billion against $1.7 billion in 2018).

The experts also pointed out to the reduction of outright thefts and the growing share of exit scams and insider-trading frauds. This trend may signal that cryptocurrency exchanges have improved their IT infrastructures and forced criminals…

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