Report: The amount of cryptocurrence theft and fraud in the first quarter of this year reached $1.2 billion

Cybersecurity company CipherTrace said on Tuesday that in the first quarter of this year, the loss of cryptocurrency theft and fraud-related activities from the exchange soared to $1.2 billion, equivalent to 70% of the 2018 annual loss. In 2018, crime losses in the digital currency sector reached $1.7 billion. But as the market slowed, prices plummeted and business activity stagnated, cryptocurrency crime surged. Ciphertrace said in a quarterly report that in the first quarter of 2019, digital currency and fraud stolen from the exchange totaled $356 million, while losses from fraud or misappropriation of funds reached $851 million.