Research Reveals $1.7 Billion Obtained via Crypto Thefts and Scams in 2018

About $1.7 billion in cryptocurrency had been obtained via illicit means in 2018, according to research published by crypto analytics company CipherTrace on Jan. 29.

Of that $1.7 billion, over $950 million was stolen from crypto exchanges, representing a 3.6 times increase over 2017. On the other hand, at least $725 million was lost in 2018 to scams such as ponzi schemes, exit schemes and fraudulent initial coin offerings (ICOs).

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