Crypto Exchange Hack Losses Already 250% Higher Than 2017, Q3 Report Shows

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Losses caused by cryptocurrency exchange hacks hit $927 million in the first nine months of 2018, already 250 percent higher than throughout all of 2017, Reuters India reports October 10.

Reuters cites a Crypto Anti-Money-Laundering (AML) report for Q3 2018 from crypto intelligence firm CipherTrace, which pitted the $927 million figure against last year’s $266 million total.

According to the report, “smaller” thefts of crypto worth between $20-60 million are also steadily rising, hitting $173 million in the third quarter.

Reuters interviewed CipherTrace CEO Dave Jevans, who is also chairman of the global anti-cybercrime organization, the Anti-Phishing Working Group.

Jevans told the agency that the real figures are likely to be 50 percent higher than those that were successfully traced


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