Hackers have glommed on to the frenzy around cryptocurrency, stealing large amounts of money as companies look to chase profits through initial coin offerings.

Over 10 percent of worldwide ICO proceeds — more than $370 million so far — has been swiped, according to new research from UK accounting firm EY and the Russian cybersecurity firm Group-IB.

The total works out to $1.5 million being stolen from ICOs per month.

Initial coin offerings (ICO) are popular and infamously disorganized cryptocurrency crowdfunding events that have raised nearly $4 billion for startups.

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