$1.2 Bln in Crypto Stolen Since 2017, GDPR Will Hinder Cybercrime Enforcement, Report Shows

Research from the Anti-Phishing Working Group (APWG) has reported that about $1.2 bln in cryptocurrencies have been stolen since the start of 2017, Reuters reported Thursday, May 24.

The $1.2 bln figure is a combination of both reported and unreported thefts, with about 20 percent or less estimated to have been recovered.

Dave Jevans, the CEO of cryptocurrency security firm CipherTrace and chairman of the APWG, told Reuters that the new General Data Protection Regulation from the European Union – which comes into effect May 25 – will negatively affect global law enforcement agencies ability to find criminals stealing cryptocurrency:

“GDPR will negatively impact the overall security of the internet and will also inadvertently aid cybercriminals. By restricting access to critical information, the new law will significantly hinder investigations into cybercrime, cryptocurrency theft, phishing, ransomware, malware, fraud and crypto-jacking.”

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