Tagciphertrace

Can We Please Stop the Ridiculous Hysteria About Cryptocurrency Fraud?

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By CCN: Another week, another breathless report about cryptocurrency fraud. Is this even news anymore? On April 30, CipherTrace reported that it had identified $1.2 billion in cryptocurrency fraud in the first quarter of 2019, compared to $1.7 billion fraud over the entirety of 2018. If the pace continues, we’ll see almost $5 billion in cryptocurrency-related fraud this year. That’s bad, guys...

Cryptocurrency Thefts and Scams Raked in 300% More Profit Last Year than 2017

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Blockchain analytics firm CipherTrace released a report this morning showing that roughly $1.7 billion in cryptocurrency was stolen or scammed over the course of 2018. The amount stolen by hackers alone is staggering: over $950 million. The figure represents an increase of more than 300% from 2017. The scams noted in the report don’t even include individual user scams. Instead, they focus on...

$1 Billion Dollar’s Worth of Cryptocurrency Stolen in 2018

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According to cryptocurrency intelligence firm CipherTrace’s Q3 Cryptocurrency Anti-Money Laundering report, as of quarter-three, 2018, cryptocurrency thefts had already reached $927 million. The blockchain cybersecurity professionals identified theft and hacks at platform layers and exchanges to be a major problem, evolving further from its Q2 findings. In the CipherTrace second-quarter report...

If Your Bitcoin is Stolen, There's Only a 20% Chance You'll Ever Get it Back

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If you're ever so unfortunate as to become the victim of a bitcoin theft, there's very little chance that you will ever see your cryptocurrency assets again. For this reason, security experts have suggested that only a fraction of these cases ever get reported, as victims believe they are not likely to retrieve stolen cryptocurrency. Reuters reports that the unique nature of cryptocurrencies has...

$1.2 Billion in Cryptocurrency Laundered Through Bitcoin Tumblers, Privacy Coins

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California-based blockchain and cryptocurrency security firm CipherTrace released its Q2 2018 report in July 2018 and noted the rise of cryptocurrency crime, money laundering, and other illicit activities. One particular item of note was that $1.2 billion has been laundered through cryptocurrency tools such as bitcoin tumblers and privacy-centric altcoins like zcash and monero. Criminals...