The loss in the hacks of cryptocurrency is still rising rapidly and it is estimated that the total cryptocurrency stolen is worth $1 billion.
As per the reports of CipherTrace, a blockchain security firm, in the year 2018, so far, the hackers have stolen around $927 million from cryptocurrency exchanges and other platforms.
This time the losses are higher in number, around 3.5 times more as compared to the values of 2017. In 2017, the losses are around $266 million. The security firm estimated that by the end of this year the values are assumed to reach more than $1 billion, which is a shocking number for the crypto traders.
The most popular hack of the year, which is mostly in news so far, is the Japanese exchange Coincheck, in which around $530 million of the cryptocurrency has stolen.
Apart from this exchange, some major breaches include Italy’s BitGrail-$195 million, Japan’s Zaif-$60 million and South Korea’s Coinrail and Bithumb in which total $70 million worth of cryptocurrency has lost. Not just the exchanges but some other businesses like token creating platform Bancor which lost around $23.5 million and Geth, an Ethereum client, lost around $20 million.
As most of the headlines are covered with these major theft issues, there’s still a growing number in the small hacks in which there’s a loss between $20 million to $60 million, and since the second quarter, the total sum is around $166 million.
CipherTrace has not included the CoinHoarder phishing theft, in which total amount of crypto lost is around $50 million. As per the firm reports, they will add this theft in the annual reports of 2018, once they get the confirm figures.
Bancor team have managed to reduce its loss of $13.5 million by blocking the transfer of 2.5 million of BNT tokens which are worth $10 million.