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Cryptocurrency Thefts and Scams Raked in 300% More Profit Last Year than 2017

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Blockchain analytics firm CipherTrace released a report this morning showing that roughly $1.7 billion in cryptocurrency was stolen or scammed over the course of 2018. The amount stolen by hackers alone is staggering: over $950 million. The figure represents an increase of more than 300% from 2017. The scams noted in the report don’t even include individual user scams. Instead, they focus on exchange exit scams, phony exchange hacks, and ICO scams. They account for an additional $725 million. The Dark Downside of the Crypto Boom If you adjust for the lower prices of cryptocurrencies in 2018, as much as

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* First published on ccn.com

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