Re: Crypto thefts, fraud hit $1.2 billion in Q1 report
⭐ Merited by Kakmakr (1)
Can you believe that losses from the theft of crypto from exchanges due to fraud hit $1.2B?
https://www.reuters.com/article/us-crypto-currency-fraud/cryptocurrency-thefts-fraud-hit-1-2-billion-in-first-quarter-report-idUSKCN1S62P3
I still can't wrap my mind around why people wouldn't want to have compliance with AML and KYC to better help that this doesn't happen
https://www.reuters.com/article/us-crypto-currency-fraud/cryptocurrency-thefts-fraud-hit-1-2-billion-in-first-quarter-report-idUSKCN1S62P3
I still can't wrap my mind around why people wouldn't want to have compliance with AML and KYC to better help that this doesn't happen
let's give this some context. chargebacks and chargeback fraud alone costs e-commerce merchants $40 billion per year now.
so a rate of $5 billion/year doesn't seem that crazy for crypto theft and fraud. bitcoins cost more than $5k a pop---we're in the big leagues now.
