According to cybersecurity company Carbon Black, around $1.1bn of cryptocurrency was stolen during the first five months of 2018.
In the unregulated world of cryptocurrency, responsibility lies with the individual to make sure that their own crypto funds are secure and ICO investments are sound.
There are four common forms of crypto thievery to blame: exchange hacks, wallet hacks, phishing attacks and ICO scams.
As long as the private key is kept safe and sound, cold storage wallets remain a solid recommendation for protecting crypto funds against theft. In addition, the crypto community is hard at work crowdsourcing new ways to combat security issues.