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Thefts from cryptocurrency exchanges continue despite increased security

August 15, 2019

Although exchanges, wallets and other cryptocurrency custody services are strengthening their defenses, attackers continue to innovate and outpace even the current state of the cybersecurity art, according to CipherTrace.

Even Binance, the world’s number-one cryptocurrency exchange, lost tens of millions of crypto assets to a cyberattack perpetrated by sophisticated hackers using a lethal cocktail of phishing, viruses and other attack vectors.

In total, cybercriminals looted $125 million in Bitcoin, Ethereum and other digital assets from exchanges in Q2 2019. However, CipherTrace based this theft number on the price of the assets at the time they were stolen.

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