Nearly $1 Billion Stolen In Crypto Hacks So Far This Year: Research

1w
2m read
Summary

The losses related to crypto hacks continue to rise sharply, with nearly $1 billion stolen so far this year, new research suggests. The firm also said that it is aware of an over $60 million hack, which has not been reported publicly. Other major breaches included a number of crypto exchanges such as Italy's BitGrail ($195 million), Japan's Zaif (around $60 million) and South Korea's Coinrail (over $40 million) and Bithumb (over $30 million). The most notable theft of the year 2018 was the hack of Japanese exchange Coincheck, which saw $530 million-worth of cryptos stolen. In the first nine months of 2018, hackers stole $927 million from the cryptocurrency exchanges and other platforms, according to a recent report from blockchain security firm CipherTrace.

Article Preview

The losses related to crypto hacks continue to rise sharply, with nearly $1 billion stolen so far this year, new research suggests.

In the first nine months of 2018, hackers stole $927 million from the cryptocurrency exchanges and other platforms, according to a recent report from blockchain security firm CipherTrace.

The document, titled "Cryptocurrency Anti-Money Laundering 2018 Q3," indicates the losses are 3.5 times higher than the levels seen in 2017, which came to $266 million. CipherTrace estimates the total figure will reach over $1 billion by the end of 2018.

The most notable theft of the year 2018 was the hack of Japanese exchange Coincheck, which saw $530 million-worth of cryptos stolen.

Other major breaches included a number of crypto exchanges such as Italy's...

Read the full article @ Coindesk