Chainalysis: inflows of crypto assets to illicit services fell by 65%

Inflows of crypto assets to illicit services fell by 65% in the first half of 2023. Chainalysis reports.

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Experts noted a drop in overall transaction volume, but for legitimate services the deviation is less pronounced — 28%.

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Inflows to ‘criminal’ addresses declined in nearly all categories, with the main drop in the ‘fraud’ category.

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From January to June, crypto scams earned nearly $3.3 billion less than in 2022. The most active avenue is ransomware programs; criminals have earned $449.1 million so far this year.

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“If these rates persist, ransomware actors will earn $898.6 million in 2023, behind only $939.9 million in 2021,” the analysts said.

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Beosin experts noted that in the first half of 2023 the digital-asset sector lost about $655.6 million due to hacking, fraud and rug pull.

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According to Immunefi, the number of crypto project breaches rose by 63%. In the second quarter of 2023, the number of such incidents reached 81.