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Cryptocurrency Community Needs to Get Security Sorted

Losses from hacks total about $2.3 billion after the Coinrail breach

It’s time the cryptocurrency community got its act together when it comes to security, writes Bloomberg Opinion’s Tim Culpan. With the latest breach of South Korean exchange Coinrail over the weekend, losses from crypto attacks now total around $2.3 billion, according to CryptoAware. The Mt. Gox hack four years ago remains the largest and most infamous, yet CryptoAware’s database counts more than 40 distinct incidents, including an average of one per month over the past year. Counting the Coinrail breach, the ninth biggest,  2018 is on track to be the busiest year for hacks on record.

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