Cryptocurrencies continue to be at scrutiny as billions of dollar are lost every year due to theft and fraud.
Regulators all across the world seem to agree that this assets require specific regulation given the lack of transparency and easy negotiation that involves transactions.
In the first quarter of 2019 cryptos showed a sum of $ 1.2 Billion of lost linked to fraud and theft, while on 2018 the annual amount reached $1.7 Billion.
The report included the losses linked to the Canadian platform QuadrigaX, which founder surprisingly died letting all accounts frozen as he was the sole password holder.
In addition, to the lost, investors saw a major decrease in the asset value as the main cryptos were facing problems and some changes faced regulatory issues.
Mark JeCvans (executive officer of the company producing the report) told Reuters 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,”