BasEx | Chainalysis 2023 Report: Decline in Criminal Crypto Revenues
Chainalysis Reports Decrease in Criminal Earnings in the Crypto Market in 2023
23.01.2023
Chainalysis Reports Decrease in Criminal Earnings in the Crypto Market in 2023

According to Chainalysis, revenues from crypto scams and hacks decreased by 29.2% and 54.3% respectively in 2023.

Analysts found that stolen cryptocurrency accounted for 0.34% of the total transaction volume in the network, with a total amount of $24.2 billion, which is less compared to $39.6 billion in 2022.

Most illegal transactions (61.5%, or $14.9 billion) were associated with sanctioned entities and jurisdictions.

At the same time, experts noted an increase in revenues in the ransomware and darknet marketplace sectors.

Despite the overall trend, cybercriminals in these areas continue to actively use Bitcoin due to its liquidity. However, in 2023, the majority of illegal transactions were carried out through stablecoins, especially in the areas of fraud and sanctioned operations.

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