Nearly $1B stolen in crypto hacks in 2018

posted 5 days ago
The losses related to crypto hacks continue to rise sharply, with nearly $1 billion stolen so far this year, new research suggests. In the first nine months of 2018, hackers stole $927 million from the cryptocurrency exchanges and other platforms, according to a recent report from blockchain security firm CipherTrace.

The document, titled "Cryptocurrency Anti-Money Laundering 2018 Q3" estimates the total figure will reach over $1 billion by the end of 2018. The most notable theft of the year 2018 was the hack of Japanese exchange Coincheck, which saw $530 million-worth of cryptos stolen. Also, the report states: "This data indicates a pattern of smaller robberies on a regular basis and sophisticated professional cyber thieves who carry out hacks at both the exchange and platform levels by capitalizing on exposed vulnerabilities, as well as by socially engineering employees who work at these companies."
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