{"id":418532,"date":"2023-07-13T14:48:07","date_gmt":"2023-07-13T14:48:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=418532"},"modified":"2023-07-13T14:49:07","modified_gmt":"2023-07-13T14:49:07","slug":"crypto-crime-plunges-in-first-half-even-as-ransomware-attacks-jump-chainalysis","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/crypto-crime-plunges-in-first-half-even-as-ransomware-attacks-jump-chainalysis","title":{"rendered":"Crypto Crime Plunges in First Half Even as Ransomware Attacks Jump &#8211; Chainalysis"},"content":{"rendered":"<p>Crypto crime overall plunged in the first half even as ransomware attacks jumped, says a Chainalysis report.<\/p>\n<p>Crypto crime fell 65% in the first six months, driven mainly be a 77% decline in money earned from scams, said Chainalysis, a blockchain analytics company, in a July 12 <a href=\"https:\/\/blog.chainalysis.com\/reports\/crypto-crime-midyear-2023-update-ransomware-scams\/\">report<\/a>.\u00a0 Crypto scammers took in nearly $3.3 billion less in the first half than they did a year earlier for a total of just over $1 billion, it said.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ Our Crypto Crime Mid-year Update is out! Here\u2019s what we found:<\/p>\n<p>\ud83d\udcc9Crime overall is down 65%<br \/>\ud83d\udcb8Scammers took $3.3B less YoY so far in 2023<br \/>\ud83d\udcc8Ransomware is on pace for its\u2019 2nd-biggest year ever<\/p>\n<p>\ud83e\uddf5Follow along for more on these\ud83d\udc46key takeaways.<a href=\"https:\/\/t.co\/Dvi8G6BcUB\">https:\/\/t.co\/Dvi8G6BcUB<\/a><\/p>\n<p>&mdash; Chainalysis (@chainalysis) <a href=\"https:\/\/twitter.com\/chainalysis\/status\/1679118984925306881?ref_src=twsrc%5Etfw\">July 12, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3>Crypto Crime Via Ransomware Shifts to &#8216;Big Game Hunting&#8217;<\/h3>\n<p><a href=\"https:\/\/insidebitcoins.com\/news\/ransomware-criminals-attack-argentine-telecoms-giant-demand-payout-in-monero\">Ransomware<\/a> is the one type of crypto-based crime on the rise so far this year and is on pace for its second-biggest year, having extorted $449.1 million through June, the report said. That&#8217;s $176 million more than during the same period a year earlier, the report said.<\/p>\n<p>One reason for the rise was a return of so-called &#8221;big game hunting,&#8221; when deep-pocketed organizations are targeted by ransomware attackers, it said. But the number of small attacks also grew.<\/p>\n<p>Declining gains from<a href=\"https:\/\/insidebitcoins.com\/news\/crypto-scam-fixed-by-revoke-after-clients-entrapped\"> scams<\/a>, almost always the highest-revenue form of cryptocurrency-based crime, is more notable than usual because it happened during a period when crypto prices rose, it said.<\/p>\n<p>&#8220;Usually, positive price movements translate to higher scam revenue, likely because increased market exuberance and FOMO make victims more susceptible to scammers\u2019 pitches,\u2019\u2019 the report said. &#8220;But 2023\u2019s drastic scam decline bucks that long-standing trend.\u2019\u2019<\/p>\n<h3>Related News<\/h3>\n<p style=\"margin: 0cm\"><a href=\"https:\/\/insidebitcoins.com\/news\/department-of-justice-doj-asks-for-international-cooperation-in-combating-crypto-crimes\">Department of Justice (DoJ) asks for international cooperation in combating crypto crimes<\/a><\/p>\n<p style=\"margin: 0cm\"><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin\">How to Buy Bitcoin Online Safely<\/a><\/p>\n<p style=\"margin: 0cm\"><a href=\"https:\/\/insidebitcoins.com\/news\/galaxy-digital-founder-says-bitcoin-etf-essential\">Galaxy Digital Founder Says Bitcoin ETF \u2018Essential\u2019<\/a><\/p>\n<p>&nbsp;<\/p>\n\n            \n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">Crypto crime overall plunged in the first half even as ransomware attacks jumped, says a Chainalysis report. Crypto crime fell 65% in the first six <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/crypto-crime-plunges-in-first-half-even-as-ransomware-attacks-jump-chainalysis\" title=\"Crypto Crime Plunges in First Half Even as Ransomware Attacks Jump &#8211; Chainalysis\">[&#8230;]<\/a><\/div>","protected":false},"author":1928,"featured_media":418535,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[],"class_list":["post-418532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto Crime Plunges in First Half Even as Ransomware Attacks Jump - Chainalysis - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Crypto crime overall plunged in the first half even as ransomware attacks surged, says a Chainalysis report.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/418532\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Crime Plunges in First Half Even as Ransomware Attacks Jump - Chainalysis - InsideBitcoins.com\" \/>\n<meta property=\"og:description\" content=\"Crypto crime overall plunged in the first half even as ransomware attacks surged, says a Chainalysis report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/insidebitcoins.com\/news\/crypto-crime-plunges-in-first-half-even-as-ransomware-attacks-jump-chainalysis\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-13T14:48:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-13T14:49:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/07\/image1-30-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"700\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Kate Irwin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@pixiekate13\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kate Irwin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/418532#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/418532\"},\"author\":{\"name\":\"Kate Irwin\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/55707bcc07096de673bf272b7582eb0e\"},\"headline\":\"Crypto Crime Plunges in First Half Even as Ransomware Attacks Jump &#8211; 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