Cryptocurrency Theft Drives 3x Increase in Money Laundering

The first half of 2018 saw more cryptocurrency theft than all of 2017 combined, driving a rise in digital money laundering as criminals elude authorities.

$731 Million Stolen from Crypto Exchanges in 2018: Can Hacks be Prevented?

Last year, crypto exchanges recorded around $266 million in losses from security breaches and heists. The first half of 2018 recorded triple the amount stolen from crypto exchanges in 2017, triggering investors in the cryptocurrency space to develop concerns regarding the standard of security measures implemented by crypto trading platforms.

CipherTrace Launches Crypto-Currency Anti-Money Laundering Service

Using advanced analytic techniques and multiple data sources, CipherTrace aims to help financial services organizations detect and limit crypto-currency money laundering.

Cryptocurrency Laundering’s Explosive Growth Podcast

Cryptocurrency money laundering is increasing dramatically, being already three times greater than in 2017. And we’re only half way through the year, observes Dave Jevans, Founder and CEO of CipherTrace, and chairman of the Anti-Phishing Working Group

Cryptocurrency exchange theft surges in first half of 2018: report

NEW YORK (Reuters) – Theft of cryptocurrencies from exchanges soared in the first half of this year to three times the level seen for the whole of 2017, leading to a three-fold increase in associated money laundering, according to a report from U.S.-based cybersecurity firm CipherTrace released on Tuesday

Crypto money laundering up threefold in 2018: Report

Bitcoin supporters argue cryptocurrency is not anonymous, that their transactions can be connected to the addresses at which they receive bitcoins. If those addresses are ever tied to their personal identity, their cryptocurrency movements can be fully visible.

GDPR regulations will mean that European domain data will no longer be added to the WHOIS Internet database, investigators will lose access to data needed for prosecution of cybercriminals:

CoinTelegraph
“So what we’re going to see is that not only the European market goes dark for all of us; so all the bad guys will flow to Europe because you can actually access the world from Europe and there’s no way you can get the data anymore.”

 

NewsBTC
“GDPR will negatively impact the overall security of the internet and will also inadvertently aid cybercriminals. By restricting access to critical information, the new law will significantly hinder investigations into cybercrime, cryptocurrency theft, phishing, ransomware, malware, fraud and crypto-jacking.”

$1.2 billion in cryptocurrency has been stolen since 2017, says report

CNet

“Put the Bitcoin in the bag and nobody gets hurt.”

The report also says that only 20 percent or less of this stolen cryptocurrency has been recovered and that law enforcement is having a hard time finding these criminals.

The Washington Post

The Cybersecurity 202: Why a privacy law like GDPR would be a tough sell in the U.S.

Washington Post

“GDPR will negatively impact the overall security of the internet and will also inadvertently aid cybercriminals. By restricting access to critical information, the new law will significantly hinder investigations into cybercrime, cryptocurrency theft, phishing, ransomware, malware, fraud and crypto-jacking.”

About $1.2 billion in cryptocurrency stolen since 2017: cybercrime group

Since the beginning of 2017, as bitcoin’s popularity and the emergence of more than 1,500 digital tokens have put the spotlight on the unregulated sector, according to APWG estimates

July 3, 2018
NEW Q2 2018 REPORTJuly 3, 2018REVEALS DRAMATIC INCREASE IN CRYPTO THEFT AND CORRESPONDING THREE-FOLD RISE IN CRYPTOCURRENCY MONEY LAUNDERING
CIPHERTRACE LAUNCHES CRYPTOCURRENCY ANTI-MONEY LAUNDERING COMPLIANCE SOLUTION AS CRYPTOCURRENCY AML REGULATION GROWS GLOBALLY Read the Release

FinCEN Eyes Cryptocurrency Amid Many Complaints | #cryptoaml #FinCEN https://t.co/5mAOiIC91T

Despite its 70% Price Drop, Bitcoin Surpassed Gold in Settlement Volume #JPMorgan bitcoin futures has the potential to elevate cryptocurrencies to an emerging asset class https://t.co/gYxqHTAPCa #bitcoin #regulation #cryptoasset

Despite its 70% Price Drop, Bitcoin Surpassed Gold in Settlement Volume #JPMorgan bitcoin futures has the potential to elevate cryptocurrencies to an emerging asset class https://t.co/Ns3Gj1pEsY #bitcoin #regulation #ETF

Criminal Activity in Cryptos Down 80% Since 2013 | DEA says: criminal activity now only accounts for 10% of the total #Bitcoin transactions https://t.co/14c14MA7CH #CryptoAML #CipherTrace

Criminal Activity in Cryptos Down 80% Since 2013 | DEA says: criminal activity now only accounts for 10% of the total #Bitcoin transactions https://t.co/dj10QIuAQu #CryptoAML