January 21, 1:00 pm EST

In the first five months of 2020, crypto thefts, hacks, and frauds totaled $1.36 billion, suggesting 2020 could see the second-highest value in crypto crimes ever recorded. In a trend that continues from last year, fraud and misappropriation still make up most of the year’s stolen crypto compared to hacks and thefts. Of the $1.36 billion stolen, fraud and misappropriation account for 98% of the total value—nearly $1.3 billion. 

On the regulatory front, CipherTrace data revealed 74% of the bitcoin that moved in exchange-to-exchange transactions was cross-border. The abundance of cross-border transactions highlights the need for exchanges to adopt appropriate cross-border controls to ensure AML and CTF compliance.

In this report from CipherTrace, read insights about major trends, enforcement actions and recent scams and how to address cryptocurrency money laundering.

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