Report: Encrypted fraud and fraud amount amounted to approximately $1.2 billion in the first quarter of 2019

According to Businesswire, CipherTrace's first quarter (Q1) cryptocurrency anti-money laundering report for 2019 shows that theft, fraud and fraud in the encryption industry amounted to $1.2 billion. In the first quarter of 2019, cryptocurrency theft reached $356 million and is expected to exceed $1 billion by the end of the year; in the past two years, US crypto-exchanges have paid 45% of cross-border payments to offshore crypto exchanges. Increased to 66%; countries such as Iran are using cryptocurrencies to evade international sanctions; the upcoming global anti-money laundering (AML) and counter-terrorism financing (CTF) regulations will help build a secure network.