Cryptocurrency thieves stole from the exchange platforms the equivalent of 927 million dollars in the first nine months of the year, 250% more than last year, shows a report of CipherTrace cyber security company.
The report, which analyzes criminal activities in the digital markets, shows an increase in thefts between $ 20 million and $ 60 million, totaling $ 173 million in the third quarter.
Thefts last year amounted to $ 266 million, according to the previous CipherTrace report.
The bitcoin population and the appearance of more than 1,600 other coins attracted more hackers into cryptocurrency space. "Regulatory institutions are two years behind, because very few countries even apply strong anti-money laundering laws," says Dave Jevans, CipherTrace executive director.
He says there are in fact 50% more criminal transactions than the study claims.
Having this said we are still wondering why the cryptocurrency (even those with proven value) don't evolve the way they should. There is a still much to do in order to fortify and secure the industry, which should have been done before building up skyscrapers as those might fall...which actually happened. But, with each experience more is learned and prevented in the future. Let's hope the theft will decrease and the industry will have the change to grow without so many bumps.