A report published Wednesday by a cybersecurity firm found that $927 million worth of cryptocurrencies were stolen by hackers from several exchanges in the first nine months of 2018. The value of virtual currencies stolen from exchanges in 2017 was $266 million, a nearly 250 percent increase already in 2018.

Published by CipherTrace, the report noted the most significant hacks of 2018 were the theft of $530 million worth of tokens stolen in Japan from Coincheck and the $195 million worth of tokens stolen from BitGrail in Italy. Additionally, the report mentioned it did not include over $60 million worth of cryptocurrencies that were stolen during the year but not reported publicly.

The data also showed that well-known cryptocurrency exchanges from various countries with weak anti-money laundering regulations (AML) had been used to launder $2.5 billion worth of bitcoins (in today’s price) since 2009. Twenty exchanges that had been used for laundering money were identified in the report, but were not named.

Read more


Related Articles


Comments