CipherTrace reports exit scams stole some $3.1 billion from crypto investors in 2019
|- A report conducted by CipherTrace covers ground on the total amount of estimated thefts from crypto investors.
- It stated the year of the exit scam, reporting that $3.1 billion had been stolen.
CipherTrace released a quarterly report, covering ground on Cryptocurrency Anti-Money Laundering. The company provides complimentary reports on the State of Crypto Crime and Global AML Regulations
It detailed that aggregate crypto losses reached $4.3 billion this year. In terms of hacking thefts they amounted to some $125 million, additionally to a 2019 total of $227 million.
Furthermore, excluding the QuadrigaCX hacking of $195 million, cybercriminals stole some $161 million in Q1. Given that CipherTrace’s price estimates are set at the time of initial reporting, current valuations would be much higher. CipherTrace further claims 2019 may be the
Within the report it stated:
Year of the Exit Scam,” with $3.1 billion stolen through exits and another $874 million in misappropriated funds. These numbers, CipherTrace notes, are only preliminary and that there are numerous other allegations under investigation.
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