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

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

The post Cryptocurrency Thefts and Scams Raked in 300% More Profit Last Year than 2017 appeared first on CCN

News – CCN

$9 Million a Day Is Lost in Cryptocurrency Scams (

In the time it takes you to read this sentence, $ 850 will have been lost to cryptocurrency scams. In the time it takes to complete this article, that figure will have risen to $ 17,000. Phishing; fraud; theft; hacking; it’s all rife. In the first two months of 2018, there were 22 separate scams involving thefts of $ 400,000 or more. Put it all together and that equates to an average of $ 9.1 million a day. Oh, and that doesn’t include 2018’s outliers – Coincheck, Bitconnect, and


Bitcoin crash and cryptocurrency scams spook credit card firms, sources say

The sharp decline in bitcoin's value also creates a classic problem for any banks providing financing. Consumers who lean on credit lines to speculate — and bet wrong — may struggle to repay. The danger wasn't so acute last year when cryptocurrencies kept climbing. But since briefly exceeding …
Google Alert – bitcoin