According to CipherTrace, a cyber security company, the $1.2 billion loss in the first quarter of this year is equivalent to 70% of the 2018 fraudulent e-money fraud activity, reaching 1.7. billion dollars. Although the e-money market has been somewhat reduced, its business movement has stalled and its price has plummeted. However, digital money crimes have somehow surfaced.

This is a legitimate incentive for counter-terrorism financing (CTF) and global money laundering (AML) regulations to be fully planned and officially in effect this year.

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The increase in cryptocurrency theft and scams is increasing and more sophisticated.

CipherTrace was established in 2015 and received support from Science and Technology (S&T), Defense Advanced Research Projects Agency (DARPA) and the U.S. Department of Homeland Security (DHS). The company has been conducting electromagnetic-forensic activities and combating cryptocurrency laundering, and solutions to monitor blockchain threats. In addition, CipherTrace also offers solutions to control and monitor regulations in exchanges, banks, digital assets of businesses, managers and investigators.

While people are still arguing about the $850 million disappearance of Tether and Bitfinex, CipherTrace has studied the dangers associated with “stable coins”. Those type of currency is designed in order to support stable currencies that should have been fluctuating.

Many founders of cryptocurrency businesses have stolen money from their users' wallets.

The US-based CryptTrace has reported that, as of the first quarter of 2019, monetary crimes with frauds and exchanges have reached $356 million in cryptocurrency from different trading floors and infrastructure. The founders of the electromagnetic companies have stollen nearly $195 million of their users' money.

Cybercriminals are now using new techniques more skillfully to steal people's money. Typically, reassigning SIM cards to smartphone users and using two-factor authentication to create new account passwords to withdraw money from users' wallets and accounts in the amount of up to millions. Quite a few electronic investors have said they lose money through fraudulent SIM cards.

However, these burglaries are just a part of us that can be seen in many frauds, hijacking and abuse online. CipherTrace estimates that the real amount of e-money assets is lost and robbed much higher.

According to the research of CipherTrace on vulnerabilities and theft in the first quarter of 2019, the damage and loss of cryptocurrency occurs frequently in relation to payments and transnational transactions. An investigation of 164 million bitcoin purchases points out that cross-border cashing to offshore exchanges have significantly grown 46% during the previous two years, which comprises $8.7 trillion or accounting for 11.5 percent of the world’s total wealth, that are hidden offshore, according to the International Consortium of Investigative Journalists.

These payments are not controlled and managed by the US government when they are exchanged and wallets in other places on Earth.

Later this year, global anti-terrorism (CTF) and anti-money laundering (AML) regulations will be applied to electronic money, according to CipherTrace. The European Union is under the jurisdiction of the Financial Stability Board and other 17 countries have established a number of regulations and standards to handle the operation of cryptocurrency since April this year.

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Many new regulations are set up for crytpcurrency

There have been many cryptocurrency thefts, scams and fraud involving global hacks last year. The largest and most influential case occurred in the first quarter of 2018.

Regulations for cryptocurrency will soon be applied in various countries around the world.

In the first quarter of 2019, blackmailers and scammers used more sophisticated measures to carry out their criminal acts. For example, the ransom of Monero, which costs up to 9 million euros (US $10.3 million), is carried out by kidnappers in Norway. They use the privacy money and arrested the wife of a billionaire hostage. Currently, the wife has not yet returned home and the kidnappers have not given any any proof of her being alive.

The UN Security Council reported on March 6 that hackers supported by the North Korean state have successfully implemented violations on at least five electronic money trading platforms in different countries in Asia from early 2017 to September last year.

Participation in the cryptocurrency market for political purposes is the focus in the first quarter of 2019. Countries compete to attract cryptocurrency businesses to strengthen their countries and other related economic sectors.

These thefts, fraud and scams need to be solved thoroughly before cryptocurrency grows further and become the main trend with a large number of people from various countries participating.