An analysis conducted by Chainalysis has revealed that in the first six months of 2023, the influx of digital assets into illegal services had decreased by 65%.
Reports indicated a decreased overall volume of transactions, though for legitimate services the deviation was less pronounced at 28%.
The majority of the decline was observed in the “fraud” sector. From January to June, digital criminals earned roughly $3.3 billion less than they did in 2022, with ransomware being the most active area in which criminals earned $449.1 million.
Experts concluded that “if this rate continues, ransomware will net $898.6 million in 2023”, a sum that would follow closely the $939.9 million earned in 2021.
This is in comparison to the findings from Beosin which reported that the digital asset sector had lost roughly $655.6 million to hacker attacks, fraud, and rug pulls.
Further results from Immunefi showed a dramatic increase in the number of crypto project hacks, totaling up to 81 in the second quarter of 2023, a 63% jump from the first quarter.
