"Cryptocurrency Crime Is Down in 2023, but Ransomware Is Up"

A snapshot of cryptocurrency-related crimes at the midpoint of 2023 revealed a drop in the amount of money directed to wallets associated with known or suspected criminal activity in nearly every category of crime. A report by Chainalysis revealed that the largest revenue decreases were attributable to cryptocurrency scams, which include investment scams, romance scams, pig butchering, and fraudulent cryptocurrency services. So far this year, wallets associated with fraudsters have received around $1 billion, a $3.3 billion decrease from the $4.3 billion they took during the first six months of 2022. Similar but less severe drops were also observed for hack-related wallets ($1.12 billion), cybercriminal administrators ($839 million), darknet markets ($59.8 million), and fraud shops ($44.1 million). This article continues to discuss insights from Chainalysis' report on revenue dips tied to cryptocurrency scams. 

SC Media reports "Cryptocurrency Crime Is Down in 2023, but Ransomware Is Up"