Japanese Bitcoin exchanges reported nearly six thousand suspicious cryptocurrency transactions between January and October 2018.
According to the Jiji Press, citing the Office of the National Police (NPA), cryptocurrency exchange in Japan found 5,994 suspicious transactions from January to October of the current year.
“It’s already been some time since the reporting system began, and it has been embraced by the industry through guidance from the Financial Services Agency,” an NPA official said of the reasons for the sudden increase.
According to the NPA, suspicious activity in the reports includes
- reuse of the same face photo by multiple parties, which must be submitted to identify users;
- multiple cryptocurrency trading accounts opened from the same IP address;
- registration of out-of-use mobile phone numbers.
It is worth noting that, compared with the period from April to December 2017, the number of suspicious cryptocurrency transactions increased by more than 800%. At the same time, as reported by the police, of the total number of all suspicious financial transactions, crypto transactions amount to no more than 1.7%