As per the latest report by analytics firm CipherTrace, crypto-currency
crime has reached $4.3 billion in the first half of 2019, whereas, in Q1 the
fraud accounted for $1.2 billion. In its Q2 2019 detailed report, CipherTrace
also mentioned about FB’s newly launched Libra and its potential implications
on global finance.
The cyber-criminals managed to sweep $125 million in
Bitcoin, Ethereum, and other digital assets from exchanges in Q2 2019. It has
been speculated that the numbers will go up as exit scams, thefts, and dark
market takedowns still under investigation.
It has been found that nearly 20% of illicit gains caused
due to the misappropriate funds. Earlier this year, Canadian blockchain startup
Vanbex was reported to have misappropriated millions.
CipherTrace’s report also covers a latest update from Canadian courts on QuadrigaCX. The report confirms suspicion of fraud and theft of funds over years. The exchange users lost nearly $200 million in crypto assets.
Source - MONEYCHECK
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