Cryptocurrency intelligence firm reported that CipherTraces Q3, 2018, cryptocurrency thefts had already reached $927 million.
Previously CipherTrace second-quarter report said, the company identified that there were more thefts during the first half of 2018 compared to the entire year of 2017 alone. Some $731 million worth of cryptocurrency was stolen from exchanges with some of the most notable hacks including that of Japanese exchange Coincheck at $530 million, and BitGrail that lost some $195 million dollars worth of tokens.
As of the Q3 report, the number now stands at $927 million lost in cyber attacks and CipherTrace predicts that this trend will continue. By the end of the year, they say, thefts will add up to well over $1 billion.
Wow, $1 billion is a huge amount of money. I know this is hard but these exchanges should really try to do everything they can in preventing hackers from having access to their sites. Security is a must for every company, they should always do every necessary things to stop hackers, just like managing their computer networks and hiring white hat hackers to check out the network and find every loopholes. Passwords too matters a lot.