Cryptocurrency crime losses more than double to US$4.5bil in 2019, report finds

Employees working on bitcoin mining computers at Bitminer Factory in Florence, Italy, in 2018. – Reuters

NEW YORK: Losses from cryptocurrency crime surged to US$4.52bil (RM18.7bil) last year, as insider theft soared even as hacking losses declined, according to a report from blockchain forensics company CipherTrace.

Last year's losses were up nearly 160% from 2018's total of US$1.74bil (RM7.2bil).