Cryptocurrency Exchange Thefts Nearing $1 Billion In 2018, Report Finds

Most significant hacks of 2018 were the theft of $530 million worth of tokens from Japan

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A report published Wednesday by a cybersecurity firm found that $927 million worth of cryptocurrencies were stolen by hackers from several exchanges in the first nine months of 2018. The value of virtual currencies stolen from exchanges in 2017 was $266 million, a nearly 250 percent increase already in 2018.

Published by CipherTrace, the report noted the most significant hacks of 2018 were the theft of $530 million worth of tokens stolen in Japan from Coincheck and the $195 million worth of tokens stolen from BitGrail in Italy. Additionally, the report mentioned it did not include over $60 million worth of cryptocurrencies that were stolen during the year but not reported publicly.

The data also showed that well-known cryptocurrency exchanges from various countries with weak anti-money laundering regulations (AML) had been used to launder $2.5 billion worth of bitcoins (in today’s price) since 2009. Twenty exchanges that had been used for laundering money were identified in the report, but were not named.

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