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Crypto hacks and frauds cost $1.4 billion: Crypto intelligence firm CipherTrace

Shortpedia

Content Team

Crypto intelligence firm CipherTrace, which started tracking cryptocurrency crime a few years ago, said it has started observing coronavirus-related frauds that Losses from cryptocurrency thefts, hacks, and frauds reached $1.4 billion from the beginning of the year until the end of May, a report from CipherTrace showed. The proportion traced to coronavirus fraud involving cryptocurrencies for the first five months of the year was minimal.