Cryptocurrency News

The Risks of Digital Payment Crime

Four recent stories about digital payment crime highlight the changing profile of financial crime from payment cards to cryptocurrencies. 

The first relates to ‘traditional’ card crime and how the dark web is being used to sell card details. The second looks at how an instant payment scheme, in this case Brazil’s, has led to a rapid increase in kidnapping. The third story is about losses experienced by a crypto exchange. The final piece, perhaps, throws light on one of the reasons why it is happening, the pace and breadth technology change is so rapid it is creating loopholes and uncovered risks.

Crypto Exchange has $100 million Stolen

Bitmart, a crypto exchange is estimated to have had $100 million stolen due to two of its ‘hot wallets’ have been compromised by the theft of a private key. Bitmart’s chief executive says the company will cover the loss and compensate users.