A recent Chainalysis analysis stated that ransomware and fraud increased cryptocurrency theft last year. “The 2023 Crypto Crime Report” was published by Chainalysis. The paper also discussed the reasons why 2022 established records for cryptocurrency hacking and the effects of sanctions against Hydra, Tornado Cash, and other companies on cryptocurrency crime. In addition, case studies on the greatest hacks, darknet markets, and ransomware variants of the year were included in the paper.
Rise in crypto crime
Chainalysis is a well-known blockchain data platform that serves more than 70 nations’ worth of exchanges, financial institutions, insurance organisations, and cybersecurity firms with data, software, services, and research.
The 2022 instability on the cryptocurrency markets was addressed in the 2023 crypto crime report. The paper also highlighted the most recent methods used by fraudsters for laundering money using cryptocurrencies.