Hackers are stealing millions in cryptocurrency during ICOs
A new report from Ernst & Young details just how big of a problem security is when it comes to cryptocurrencies. Researchers collected data on 372 initial coin offerings (ICOs) that took place between 2015 and 2017 and found that over 10 percent of ICO proceeds are stolen by hackers , a percentage that amounts to the theft of up to $1.5 million per month. And in addition to monetary theft, hackers are also gaining access to personal information like addresses, phone numbers, bank details and credit card numbers. Cryptocurrencies like bitcoin have become incredibly popular of late and everyone from Ghostface Killah to KFC is jumping on the bandwagon. But digital currencies have largely functioned without regulation and without safety nets for most of their existence. And that combined with a lack of proper safeguards has opened up cryptocurrencies and exchanges to hackers and widespread theft. Ernst & Young says phishing is the most popular tool used by hackers. "H...