Chainalysis: Illicit crypto-transactions fell by 15%

The volume of illicit digital-asset transactions from January to July fell by 15% compared with the same period last year, according to Chainalysis.

7/ Read on to get more examples of specific forms of crypto-based crime that have fallen and others that increased in 2022. https://t.co/DdfHNjRotU

— Chainalysis (@chainalysis) August 16, 2022

Analysts linked this to a drop in crypto asset prices. According to calculations, the volume of non-suspicious crypto transactions for the same period fell by 36%.

“If we drill down into specific forms of crime, we will find that some have actually increased, while others have fallen more than the market as a whole,” the report says.

Thus, total revenue from scams was 65% lower than a year ago, totaling $1.6 billion. The figure was the lowest in four years.

“We do not expect the number of hacks to decline in line with market movements, as with fraud. As long as assets stored in DeFi pools and other services retain value and remain vulnerable, attackers will continue to attempt to steal them,” the specialists concluded.

As Chainalysis noted, ущерб от взломов кроссчейн-протоколов с начала года в $2 млрд.

Ethereum founder Vitalik Buterin has previously said he is pessimistic about cross-chain bridges. He believes the latest are vulnerable to 51% attacks.

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