Research from the Anti-Phishing Working Group 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.
"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."
"So what we're going to see is that not only the European market goes dark for all of us; so all the bad guys will flow to Europe because you can actually access the world from Europe and there's no way you can get the data anymore."
A Cointelegraph Expert Take from March detailed how the GDPR would affect blockchain, with the takeaway that the GDPR and blockchain may be in direct conflict since blockchain's core technology revolves around decentralized networks and the GDPR framework was written with the assumption that personal data is stored in a centralized system.
The Expert Take notes that the vagueness of some sections of the GDPR, particularly in regards to the right to data erasure, may allow for interpretation favorable to blockchain.
$1.2 Bln in Crypto Stolen Since 2017, GDPR Will Hinder Cybercrime Enforcement, Report Shows
Published on May 25, 2018
by Cointele | Published on Coinage
Coinage
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.