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.
Thanks for the news and i was surprised to see the numbers as million of dolllars worth crypto are being stolen every year by the hackers from trading companies and individuals which has no record.We have heard many time that $10-$20 million of crypto were stolen from that exchange or so but what after nothing can be done to trace them.These things poses a threat to adoption of bitcoin and other altcoins in the global market as governmemt think it as unsecured decentralized mode of payment which can cause loss to the country.