Economy Local February 15, 2025

Record High Cryptocurrency Fraud Revenues

A report by Chainalysis found that revenues from cryptocurrency-related fraud have reached record levels, reflecting an increase in fraudulent activity in this space.


Record High Cryptocurrency Fraud Revenues

The company "Chainalysis", specializing in blockchain research, has reported that revenues related to cryptocurrency fraud reached record levels last year.

Experts noted that the total sum of cryptocurrency linked to fraudulent activities in 2021 amounted to about $7.7 billion. This is three times higher than the volume of the previous year. The main reasons for cryptocurrency fraud remain the theft of cryptocurrencies, phishing platforms, and investment schemes.

It is important to note that such actions are detrimental to the reputation of the entire cryptocurrency industry and withdraw large sums of money from the legal turnover. The company "Chainalysis" calls for urgent measures for security and regulation to reduce the risks of fraud in this area.