According to estimates from Anti-Phishing Working Group, the theft of the $1.2 billion includes both reported and unreported theft of cryptocurrencies. Cryptocurrencies are being used by criminals to facilitate criminal activities such as drug trafficking, money laundering, and the actual theft of crypto coins and tokens, said Dave Jevans, CEO of cryptocurrency security firm CipherTrace. He is also the chairman of APWG.
Jevans estimates that of the $1.2 billion stolen, the most that has ever been recovered is 20%. He adds that global law enforcement agencies are working hard to track the criminals. It is likely that criminals will have a tougher time with the implementation of the European Union’s new General Data Protection Regulation (GDPR), which took effect on Friday, May 25th.