Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Theft From Cryptocurrency Exchanges Jumps in 2018

Published 05/07/2018, 09:57 pm
Updated 05/07/2018, 09:57 pm

Investing.com - Theft from cryptocurrency exchanges in the first half of 2018 was almost triple the amount in all of 2017, according to a new report.

The report by U.S. cybersecurity firm CipherTrace said $761 million in cryptocurrencies had been stolen from exchanges so far in 2018. Hackers stole $266 million in 2017.

The report says the stolen money is usually laundered, allowing the hackers to hide their identities and avoid arrest.

The report says global regulators are paying more attention to the exchange thefts and pushing for tougher rules as part of a broader crackdown on money laundering.

Hackers stole $530 million from the Japanese crypto exchange Coincheck in January.

A separate report by the U.S. Treasury put crypto theft from exchanges at $1.5 billion over the past two years.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.