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Cryptocurrency theft hits nearly $1 billion in first nine months: report

“Theft of cryptocurrencies through hacking of exchanges and trading platforms soared to $927 million in the first nine months of the year, up nearly 250 percent from the level seen in 2017, according to a report from U.S.-based cyber security firm CipherTrace released on Wednesday. The report, which looks at criminal activity and money laundering in the digital currency market, also showed a steadily growing number of smaller thefts in the $20-60 million range, totaling $173 million in the third quarter. Digital currencies stolen from exchanges in 2017 totaled just $266 million, according to a previous report from CipherTrace. Bitcoin’s popularity and the emergence of more than 1,600 other digital coins or tokens have drawn more hackers into the cryptocurrency space, expanding opportunities for crime and fraud.”

Source: Cryptocurrency theft hits nearly $1 billion in first nine months: report | Reuters

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