15/08/19 12:00 UTC-4

CipherTrace report: exit scams stole $3.1 billion in 2019, and hackers – $480 million

Losses from crypto crimes for the 2nd quarter of 2019 increased by $ 2.5 billion compared to 2018
Losses from crypto crimes for the 2nd quarter of 2019 increased by $ 2.5 billion compared to 2018

Attackers stole $4.26 billion from crypto-investors and crypto-business for the two quarters of 2019. Most of this amount – $ 3.1billion – fell on exit scams. This is stated in the report of the CipherTrace analytical company.  


CipherTrace: Crypto crime losses hit a record $ 4.2 billion in 2019

According to CipherTrace, the South Korean PlusToken project was the largest exit scam in 2019. He robbed more than 2.4 million users for $2.9 billion, according to the company.

The authorities of China and South Korea have opened a criminal prosecution of the organizers of PlusToken. Their identities are still unknown. The police claim that one of them is a Russian under the "Leo"pseudonym, and the second is a South Korean citizen under the "Kim Jong-un" nickname .

In total, according to CipherTrace, for the 2 quarters of 2019, exit scams stole $3.1 billion. Two more such projects – Coinroom and Bitsane – are under investigation and the losses from activities were not counted.

Hackers also did not stand still in January-June of this year. CipherTrace claims that criminals managed to steal $480 million from crypto-enthusiasts exchanges and wallets. In addition, attackers even hacked Binance – one of the most popular crypto-exchanges in the world with a daily tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
volume of $1 billion. In May, hackers stole 7074 BTC from the wallets of the trading platform or $40 million at the rate at the time of the theft.

Binance indemnified losses to affected customers

The total amount of losses from the actions of crypto-attackers for the 2nd quarter of 2019 amounted to $4.26 billion, which is 150% or $2.56 billion more than in 2018, when the criminals managed to steal $1.7 billion.

Editor: Godfrid Brower

See also: "The US launched a cryptocurrency fraud investigation operation"

#Hackers #Cryptocrime #Exitscam #PlusToken #Binance #CipherTrace #Cryptoexchanges



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