Losses from cryptocurrency crime surged to US$4.52 billion last year, as insider theft soared even as hacking losses declined, according to a report from blockchain forensics company CipherTrace seen by Reuters.
NEW YORK: Losses from cryptocurrency crime surged to US$4.52 billion last year, as insider theft soared even as hacking losses declined, according to a report from blockchain forensics company CipherTrace seen by Reuters.
Last year’s losses were up nearly 160per cent from 2018’s total of US$1.74 billion.
I-Blockchain, eyaqala ukuvela njengohlelo olunika amandla i-bitcoin, isizindalwazi esabiwe esigcinwe inethiwekhi yamakhompyutha.
Cryptocurrency user and investor losses due to fraud and misappropriation in 2019 increased by more than five times, while hacks and thefts fell by 66per cent, the report showed.
“We noticed a significant uptick in malicious insiders scamming unsuspecting victims or leaching on their users through Ponzi schemes,” Dave Jevans, CipherTrace chief executive officer, told Reuters. “Attacks from the inside of organizations lead to significant exits with major consequence to the crypto-ecosystem.”
Kusukela kwethulwa i-bitcoin eminyakeni engaphezu kweyi-10 edlule, ohulumeni nabalawuli emhlabeni jikelele baye babhekana nokungafihli kahle kanye nokungabi bikho obala emakethe ye-cryptocurrency okuholele ekulahlekelweni okukhulu kubatshalizimali.
Two large losses early last year were the main drivers for the surge, CipherTrace said.
Users and customers lost roughly US$3 billion from an alleged Ponzi scheme involving crypto wallet and exchange PlusToken.
The other significant loss was the almost US$135 million that customers lost from Canadian crypto exchange QuadrigaCX following the unexpected death of its co-founder, according to CipherTrace.
Umbiko we-CipherTrace uphinde wathola amabhizinisi enkonzo yemali ye-cryptocurrency engekho emthethweni - okuhlanganisa nokuhwebelana kwe-crypto - adlulisele izimali kumanethiwekhi okukhokha cishe wonke amabhange aphezulu ayi-10 ase-US.
Ukuhlaziya kuphinde kwaveza ukuthi ibhange elikhulu lase-US elijwayelekile lisebenza izigidigidi zamaRandi minyaka yonke ekudluliselweni kwemali okuhlobene ne-cryptocurrency okungabonwa.
"Le misebenzi eyimfihlo idala izingozi zokuthobela i-AML (anti-money laundering) ngoba izigebengu kumele zithole izindlela zokuthola inzuzo ye-crypto etholwe ngendlela engafanele," kusho uCipherTrace embikweni.
CipherTrace research found that banks globally paid more than US$6.2 billion in AML fines in 2019.
(Reporting by Gertrude Chavez-Dreyfuss, Editing by Rosalba O’Brien)
