Cryptocurrency Exchange Theft Surges in First Half of 2018

[DooKey]

According to Reuters, cybersecurity firm CipherTrace has released a report that shows cryptocurrency exchange theft in the first six months of this year surged three times higher than all of 2017. They say this led to a three-fold increase in associated money laundering as a result. Also, activity like this is starting to attract more attention from regulatory entities and some countries are ratcheting up their regulatory efforts. Keep an eye on this cryptocurrency fans.

For instance, the report also cited concerns about rising criminal activity in the sector from the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN), which referred to cryptocurrency-denominated ransomware payments and research showing that $1.5 billion was stolen in hacks of exchanges over a two-year period.

 

[AK0tA]

Glad to see that the "Regulatory entities and Some countries" getting involved. Just shows that this is a viable way for the top eschelon to launder "other" funds. Manipulation is cool these days.

 

[katanaD]

sounds like the exchanges need to talk to banks on how to secure things

sadly you never hear "hackers got into bank.. payed off peoples debt"

 

[RealBeast]

Glad to see that the "Regulatory entities and Some countries" getting involved. Just shows that this is a viable way for the top eschelon to launder "other" funds. Manipulation is cool these days.

My guess would be that noticing the thefts was just a byproduct of FinCEN's efforts to track money flows looking for that laundering.