According to Reuters, on Tuesday, local blockchain security company CipherTrace released a report showing that in the first half of 2018, about 761 million US dollars of cryptocurrency in the cryptocurrency exchange was stolen, and the scale of theft was three times the level of 2017.
The value of the cryptocurrency stolen by the exchange in 2017 was $266 million. The cryptocurrency that was stolen in the first half of 2018 reached $761 million. CipherTrace warned that the cryptocurrency of the exchange’s theft could be expected to reach $1.5 billion by the end of the year.
According to reports at the time, last month, two Korean cryptocurrency exchanges were stolen and a net profit of $40 million was made in one attack. At that time, the cryptocurrency exchange value of about $32 million was stolen on the Korean cryptocurrency exchange.
Unlike traditional banks, assets in cryptocurrency exchanges are usually not insured. Even if they do not trade with hackers, assets will still be affected. Hacking attacks on cryptocurrency exchanges will result in a decline in cryptocurrency prices.
CipherTrace CEO Dave Jevans said in an interview with Reuters: “In the first half of this year, the size of stolen cryptocurrencies was three times that of last year. Obviously, the trend is not very optimistic.”
Jevons said the surge in cryptocurrency crime has caught the attention of regulators and law enforcement agencies around the world. Regulators, global law enforcement agencies and exchanges around the world continue to discuss how to prevent a surge in crime in the cryptocurrency industry.