If Your Crypto Coins Are Stolen, You Can Only Get Them by 20%
According to a survey, small individual investors are left unattended in the face of crypto-money robberies.
If you’re a victim of a Bitcoin theft, your chances of seeing your stolen crypto coins are pretty low.
Security experts have reported that only a fraction of these cases have been reported, because the likelihood of recovering the stolen crypto coins is very low. According to Rueters, the unique nature of crypto currencies provides an advantage for criminals. Even crypto money scammers are aware of this advantage. FBI agent Patrick Wyman, who drew attention to the unique nature of the crypto coins and the security issues he brought with him, said:
The decentralized monetary system owned by Bitcoin and other crypto coins is not managed by any legal entity. Therefore, any crypto money does not have suspicious transaction reporting or anti-money laundering arrangements.
Crypto coins are becoming very popular. However, the number of cyber criminals in the crypto money ecosystem is increasing in direct proportion to popularization. According to security experts, high-profile cases are being investigated with great interest, but small investors are left unattended in the face of cyber attacks. In an interview with Reuters, Europol analyst Jaroslav Jakubcek said that it is impossible for law enforcement officers to combat all crimes.
Crypto Aware reported about $ 1.7 billion of crypto money stolen from 2012 until the first half of 2018. In 2018, only $ 800 million worth of crypto money was stolen. According to the survey, 85% of these attacks were never reported.
Reuters reported that David Jevans, CEO of California-based cyber security firm CipherTrace, was also included. Jevans noted that only 20% of the funds could be recovered, even in cyber attacks by stock exchanges because of the very easy cross-border transaction with crypto money.
Last August, US entrepreneur and crypto money investor Michael Terpin’s cop card was copied and $ 24 million of crypto money was stolen from his mobile wallet. After the robbery, Terpin opened a $ 224 million compensation case for the sim card operator AT & T. In a recent incident, a 24-year-old Norwegian crypto money investor was stabbed to death in an incident in Oslo.