CryptoWatch: This troubling stat should put crypto investors on high alert

As if double-digit price swings aren’t enough to keep crypto investors on edge.

According to new research from Ernst & Young, more than 10% of funds raised through “initial coin offerings” are either lost or stolen in hacker attacks. The study looked at more than 372 ICOs and discovered that about $400 million of the total $3.7 billion in funds raised has just vanished.

Read:Suffering and schadenfreude in the crypto community.

“Hackers are attracted by the rush, absence of a centralized authority, blockchain transaction irreversibility and information chaos,” Ernst & Young explained, adding that the frequency of attacks on exchanges is increasing.

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