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CipherTrace reports a rise in cryptocurrency theft has increased in 2019

  • A report was released which details that cryptocurrency theft for this year has increased versus 2018.
  • It cited the increase in money moving through digital currency exchanges and more large incidents of theft.
CipherTrace reports a rise in cryptocurrency theft has increased in 2019
Ken ChigboKen ChigboIndependent Analyst

Blockchain foresentics firm CipherTrace, has drafted a new report which is claiming that cryptocurrency theft has increased in 2019, versus similar theft in 2018.

The report covered that the rise in stolen cryptocurrency was due to the increase in money moving through digital currency exchanges and more large incidents of theft.

CipherTrace CEO Dave Jevans commented:

The 150% increase in crypto theft and fraud reflects how criminals are adapting for bigger and better scores. Criminals chase money and the money is right here and ripe for the taking. Little attacks are often easy to defend against, but targeted attacks are far more lucrative.

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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