Recover Bitcoins after a theft? Report reveals that this only happens in 20% of cases.
As the popularity of cryptocurrencies has increased, the cases of cyber attacks and the theft of digital currencies have also increased. That is why the companies that work with these assets have been concerned with strengthening their security systems. However, on many occasions, this is not enough, and the funds of their clients are stolen; and everything indicates that only 20% of them have been recovered.
This disheartening figure is due to the fact that security agents face quite particular challenges when it comes to the encryption industry. First, many of the cases of theft are not reported, as users believe that they are not likely to recover their funds.
Most victims have a rather pessimistic attitude and believe that criminals will never be caught, therefore, once stolen, they give their digital assets for lost.
The second obstacle facing security agents is explained by Patrick Wyman, supervisor of the financial crimes section of the FBI’s money laundering unit: “A decentralized currency system like Bitcoin or another form of virtual currency is not governed by no entity, suspicious reporting activity and any compliance against money laundering, “reports CCN.
A third aspect has to do with the large number of cyber crimes that these authorities have to deal with. Many of the researchers are dedicated to dealing with large cases of theft, leaving small investors without anyone to take care of their cases.
Jaroslav Jakubcek, an analyst at Europol, said it is impossible for all agencies responsible for enforcing the law to allocate resources to all crimes.
The financial research firm that helps victims of cryptographic scams, Autonomous NEXT and Crypto Aware, estimates that between 2012 and the first half of 2018 $ 1,700 million were stolen in cryptocurrencies. Of them, 85% never report.
David Jevans, CEO of CipherTrace, said that more than 20% of digital currencies were recovering. The main reason is that moving the tokens from one place to another, even between different borders, is quite simple. In addition, as the collection of evidence usually takes a long time and, by that time, money is already far away, many have chosen to only deal with cases of huge amounts of money.
Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and / or services. This press release is for informational purposes information does not constitute investment advice or an offer to invest.