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In 2023, the overall worth of digital assets taken by cybercriminals and involved in illegal transactions was merely $24.2 billion, reflecting a 39% decline from 2022.
The most recent report from Chainalysis indicates that the magnitude of unlawful crypto transactions saw a significant reduction in 2023. Only 0.34% of all on-chain transactions with digital assets were deemed suspicious.
In contrast, approximately 0.42% of crypto transactions were associated with fraud or illegal actions in 2022, and 1.29% in 2019. Analysts have also noted a shift in the types of assets utilized in crypto-related crimes. For instance, around 60% of fraudulent transactions involved stablecoins for the second consecutive year. In 2023, there was an increased attraction of cybercriminals towards BTC, with its usage rate climbing to 25% over the year. Conversely, the application of ETH in illegal activities experienced a slight decline.
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Analysts disclosed that cybercriminals favor specific types of assets for various frauds and illicit transactions. Operations on the DarkNet and ransom demands via ransomware are executed with BTC almost 100% of the time. Stablecoins are predominantly utilized for transactions between platforms and entities under sanctions, as well as in scams. ETH frequently ranks among the assets stolen during security breaches.
Cryptocurrencies were predominantly employed for money laundering in 2023 ($22.3 billion). There were 231 security incidents involving blockchain projects, resulting in the theft of roughly $1.7 billion in crypto. Fraudsters amassed approximately $1.1 billion through extortion schemes.
According to the UN report, USDT on Tron is the most favored digital asset among players in the shadow economy of Southeast Asia. Tether strongly disputes this claim. Circle has withdrawn support for its assets on the Tron network, citing the necessity to uphold the reliability, transparency, and security of USDC.
Сообщение Volume of Illicit Crypto Transactions Decreased by 39% in 2023 появились сначала на CoinsPaid Media.
