Cyber Criminals Have Taken More Than $1 Billion in Cryptocurrency

Bitcoin, Ethereum and other cryptocurrencies and tokens are getting more and more popular, the new ones are emerging on a regular basis. However, being in the spotlight can also cause some problems, for example, the heightened interest among the rogues. According to Reuters, the criminals managed to get hold of as much as $1.2 billion in different cryptocurrencies.

The approximate calculations were published on Thursday by the Anti-Phishing Working Group (APWG). It is reported that only 20% of the stolen funds were retrieved. Although, the investigation of cyber crimes will most likely slow down due to the new law created by the General Data Protection Regulation (GDPR).

Dave Jevans, the chairman of APWG, noted that this law will have a bad influence the safety of the Internet space and create new opportunities for stealing and scamming. He added that the investigations of “cybercrime, cryptocurrency theft, phishing, ransomware, malware, fraud and crypto-jacking” will be much more harder to conduct.

The incorporation of this law will oblige all the companies to adhere to the regulations which are supposed to protect the information of the customers and let the EU residents control this information. It means that the biggest database that contains the data on the owners of site domains, WHOIS, will stop operating in the nearest future. This fact will deprive the law enforcement bodies of the data on potential criminals. Dave Jevans called WHOIS “crucial” in figting cyber crimes.

The cases of cyber crimes and cryptocurrency theft are becoming more and more frequent. We remind you that Malwarebytes is preventing aroung 8 million illegal mining attempts per day, a total of 248 million per month.

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