Hackers’ Total Loot for 2018? $1.7-B in Crypto, CipherTrace Says

Bitcoin’s sustained nosedive is no reason for the bad guys to stop their nefarious ways as they carted away a total of $1.7 billion in digital cash – with on end in sight, just yet, despite measures implemented by tech experts to curb this lucrative industry.

New Tactics for Theft

Based on the 4th Quarter Cryptocurrency Anti-Money Laundering Report by blockchain intelligence agency CipherTrace, of the $1.7 billion loot, more than $950 million was siphoned off form cryptocurrency exchanges, a figure three times as big as what hackers stole the previous year.

In 2018, hackers developed their own technology to breach even the most “secure” virtual currency infrastructure to dupe investors to the tune of almost $2 billion worth of cryptocurrency. Despite the fierce bear market atmosphere and grim price scenario, cryptocurrency theft continues to grow.

Some of the noted sinister schemes last year that experts see to grow for 2019 include ICOs exit scams, custodial services, pure…

Read Full Story : Live Bitcoin News

2019-02-01 07:02:20

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