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Cryptocurrency scams are down, but hackers are still resilient in bear markets – TechCrunch


When it comes for crime, illegal activity still abounds despite crypto volatility, according to a new Chainalysis report.

“This year’s crypto trading volume for both legal and illegal entities is tracking between 2021 and July,” the report states. “Overall, criminal activity appears to be more resilient in the face of a price drop: Illegal volume is down just 15 percent year-on-year, compared with 36 percent for the bloc. legal quantity”.

But there is nuance in the apparent downturn in illicit activity – some sub-sectors of crypto-based crime have increased in 2022, while others have declined.

Kim Grauer, research director at Chainalysis: “The main drivers of reducing illegal activity are: macroeconomic conditions, increased law enforcement, and general consumer acceptance that cryptocurrencies are not must be the anonymous source of payments it was once supposed to be,” Kim Grauer, research director at Chainalysis, told TechCrunch.



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