In January-July, the volume of transactions related to illegal activities with digital assets decreased by 15% compared to the same period of the previous year. Such data is provided at Chainalysis.

Analysts attributed this to the decline in the prices of digital assets. According to calculations, the volume of unsuspecting crypto transactions fell 36% over the same period.

“If we investigate specific types of crime, we will see that some are actually increasing and some are decreasing more than the market as a whole.” says report.

Thus, total revenue from fraud was $1.6 billion, 65% lower than a year ago, and the indicator was the lowest in the last four years.

Experts concluded that the appeal of fraudulent advertising is waning against a deteriorating cryptocurrency market backdrop. Statistics were also affected by the absence of major Ponzi schemes such as PlusToken ($2 billion in 2019) and Finiko ($1.5 billion in 2021).

Damage from the attacks from January to July was $1.9 billion. For comparison, the figure for the same period last year was $1.2 billion. The increase is due to the growing popularity of DeFi protocols, which have become victims of hackers due to insufficient attention. to the control of smart contracts.

“As with scams, we do not expect the number of hacks to decrease depending on the market movement. As long as assets stored in DeFi protocol pools and other services are valuable and vulnerable, attackers will try to steal them.”experts concluded.

Recall that Chainalysis has estimated $2 billion in damage from hacking cross-chain protocols since the start of the year.

Ethereum founder Vitalik Buterin has previously said he is “pessimistic” about cross-chain bridges. According to him, the latter is vulnerable to 51% attacks.

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