Global Crypto-Related Crimes Reaches USD $1.3 Billion in Losses

By in

Last week, cybersecurity firm CipherTrace reported the total losses from crime in the digital currency sector. There was a surge during the first quarter of the year totaling USD $1.3 billion in stolen funds, making up 70% of the level for the entire financial year of 2018.

The value of losses caused from the stealing of crypto-currencies from exchanges and other fraud-related activities has reached record levels. Crypto-currency crime has snowballed as the market has stalled; with prices plunging and digitised business activities stalling.