$1.4 Billion In Cryptocurrency Stolen In The Spring of 2020 Amid Coronavirus and WoToken Scams
Cryptocurrency intelligence company tracking crimes involving digital assets – CipherTrace – said in its latest report that crypto thefts, hacks, and frauds totaled $1.4 billion in the first five months of 2020. Cryptocurrency exchanges are becoming more aware of illegal funds coming from crimes and are implementing successful countermeasures, the firm added.
According to the paper dubbed Spring 2020 Cryptocurrency Anti-Money Laundering and Crime Report, the most significant contributor to the massive amount is the Chinese fraudulent project – Wotoken. For the third consecutive year, cryptocurrency platforms based in Finland have received the most substantial amount (12.01%) of Bitcoin funds from criminal sources.