CipherTrace has published this report which says that, by the end of July 2021, major crypto thefts, hacks, and frauds totalled $681 million.  It said that while this number continues to be dwarfed by previous years’ highs, a breakdown of the types of thefts and fraud confirms a trend observed at the beginning of last quarter – involving DeFi.  The proliferation and escalation of ransomware targeting critical infrastructure marks another disturbing trend in 2021. On the regulatory front, the world is set to accelerate the implementation of the cryptocurrency “Travel Rule”.

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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