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Cyber bank robbers stick up Ethereum owners for $225 million | SFGate

Cyber bank robbers stick up Ethereum owners for $225 million | SFGate

Here’s another reason to be leery of the initial coin offerings being done at a staggering pace in the cryptocurrency world: There’s a 1-in-10 chance you’ll end up a victim of theft.

Phishing scams have helped push up criminal losses to about $225 million this year, according to Chainalysis, a New York firm that analyzes transactions and provides anti-money-laundering software. In such scams, investors are tricked into sending money to Internet addresses pretending to be funding sites for digital token offerings related to the Ethereum blockchain technology.

More than 30,000 people have fallen prey to Ethereum-related cybercrime, losing an average of $7,500 each

Source: Cyber bank robbers stick up Ethereum owners for $225 million
SFGate