Chainalysis has found that illicit crypto volumes are down this year, with total scam revenue sitting at $1.6 billion, 65% lower than where it was through the end of July last year. “Those numbers suggest that fewer people than ever are falling for cryptocurrency scams,” the blockchain data analytics firm wrote.
Data Shows Illicit Crypto Volumes Are Down
Blockchain data analytics firm Chainalysis published its mid-year crypto crime update titled “Illicit Activity Falls With Rest of Market, With Some Notable Exceptions” on Tuesday.
The firm wrote that overall:
Illicit volumes are down just 15% year over year, compared to 36% for legitimate volumes.
Specifically, “Total scam revenue for 2022 currently sits at $1.6 billion, 65% lower than where it was through the end of July in 2021, and this decline appears linked to declining prices across different currencies,” Chainalysis noted.
Furthermore, “the cumulative number of individual transfers to scams so far in 2022 is the lowest it’s...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...