Scammers and Hackers See Decreased Inflows, But Ransomware Attackers Thrive
According to a mid-year report from Chainalysis, scammers and hackers are seeing significantly less revenue this year. Crypto crimes have experienced a drop in inflows due to a decrease in hacks and scams. However, ransomware attackers continue to thrive, extorting nearly $450 million so far.
Key Points:
- Total losses to illicit actors range near $2.5 billion, down 65% from mid-2022.
- Legitimate actors are experiencing a “much less severe” drop in inflows.
- Scammers are pulling in billions of dollars less this year.
- Impersonation scams are duping nearly 50% more people this year.
- Ransomware attackers have extorted nearly $450 million so far.
While scammers and hackers are seeing decreased inflows, ransomware attackers are finding success by infecting organizations with targeted ransomware. Their tactics include both sophisticated and less sophisticated methods.
Hot Take:
The decrease in inflows for scammers and hackers is a positive sign, indicating that the cryptocurrency industry is becoming more resilient against illicit activities. However, the thriving ransomware attacks highlight the need for organizations to strengthen their cybersecurity measures to protect against these types of threats.
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