Reuters interviewed Dave Jevans (CEO of CipherTrace) who said that “Crypto crime has gotten worse because regulations are still weakly enforced. Europe broadly has not implemented its regulations yet and the cyber criminal community continues to grow…” The May 1, 2019 report entitled “Cryptocurrency thefts, fraud hit $1.2 billion in first quarter: report” included these comments from cybersecurity expert Jevans who is also “the chairman of the Anti-Phishing Working Group, a global organization that aims to help solve cyber crimes”:
I would also add that insider issues such as fraud or theft have grown mostly due to operations outside of the U.S. where regulations are poor, or simply due to greed and mismanagement by young management teams at these cryptocurrency companies that are managing hundreds of millions or even billions of dollars.
…there was a major gap in the current cryptocurrency regulatory environment with respect to cross-border payments from U.S. exchanges to offshore exchanges, which are beyond the purview of U.S. authorities.
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