Hackers Have Stolen Nearly $10 Bln in Crypto Since 2017: Details

Mon, 03/02/2020 - 15:13
Yuri Molchan
KPMG reports that since the year that came prior to the crypto winter, cyber-criminals have managed to steal almost $10 bln in crypto. Particular reasons are named
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Bloomberg has shared details of a recent report about the amount of cryptocurrencies stolen by hackers since 2017 from investors and long-term holders. Overall, at least $9.8 bln has been stolen, it says.

In the document, the accounting company KPMG stated that such crypto assets as Bitcoin and Ethereum have become popular among institutional investors after BTC reached an all-time high of nearly $20,000 per coin. Thus, the goal of the report is to urge hedge funds to be careful, since crypto currencies can be stolen by cyber-criminals of various shapes and sizes.

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Now that hedge funds have become interested in digital assets and some are competing for crypto investors, the report emphasizes, the issues of security here have become important than before.

The main reasons for hackers succeeding in their crypto thefts are “lax security or poorly written code”, says the report.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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