Lost Crypto Value Surpasses $4.26B Worldwide In 2019

Law360 (August 13, 2019, 8:23 PM EDT) -- Over $4.26 billion in cryptocurrency holdings were lost globally in the first half of 2019 despite an uptick in regulatory awareness in the industry, cryptocurrency anti-money laundering intelligence firm CipherTrace said in a report published Tuesday.

The bulk of the lost digital tokens stem from what the report calls “exit scams,” largely fraudsters who purport to run a legitimate cryptocurrency business before looting customers’ funds and disappearing with the money, often through Ponzi-like schemes. These thefts cost investors over $3.1 billion in the first six months of 2019, the report said.

Cryptocurrency thefts through cyberattacks in the first half of the...

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