More than $1.2 billion in cryptocurrencies were stolen since 2017

According to estimates collected by the Anti-Phishing Working Group, about 1.2 billion cryptocurrencies were stolen since the beginning of last 2017. Part of APWG’s research focused on showing the reported and unreported theft of the same, of which it is estimated which were recovered approximately 20% or less.

Dave Jevans, president of the Working Group, said during an interview that “a problem that is being seen in addition to criminal activity such as drug trafficking and money laundering using cryptocurrencies is the theft of these tokens by the bad guys” .

Jevans stressed that law enforcement agencies worldwide have “hands full” looking to discover the criminals. For this reason, WHOIS data is being used, a transmission protocol based on a request (response to queries in a database, which allows determining the owner of a domain name or an IP address in the network), as a fundamental resource for investigations that lead to the recovery of stolen funds, the identification of the people involved and the delivery of vital information for the application of the law.

However, after the launch of the General Regulation of Data Protection of the European Union (GDPR), the professional believes that investigations of this type will become more difficult.

“GDPR will have a negative impact on overall internet security and will also inadvertently help cybercriminals.” By restricting access to critical information, the new law will significantly hamper investigations into cybercrime, cryptocurrency theft, phishing, ransomware, malware, fraud. and crypto-jacking”, he explained.

Approved in 2016, the aim of the regulation is “to simplify and consolidate the rules that companies must follow to protect their data and return control of personal information to citizens and residents of the EU.”

N. Moncada

Source: HiperTextual

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