New data from market analytics platform Chainalysis reveals that “pig butchering” schemes are the most lucrative type of crypto scam in 2024. In its 2024 crypto crime mid-year report, Chainalays reveals that pig butchering – or a scheme where bad actors use online personas to slowly gain the trust of their victims to encourage them […]
The post ‘Pig Butchering’ Is the Most Lucrative Crypto Scam in 2024: Chainalysis appeared first on The Daily Hodl.
As the Turkish Capital Markets Board continues to update the list and companies work to meet regulatory requirements, the Turkish crypto market is poised for significant changes.
The Turkish cryptocurrency landscape is experiencing a major transformation as prominent companies like Coinbase and KuCoin compete to obtain business licenses in the country.
This surge in applications follows regulatory updates by the Turkish Capital Markets Board (CMB), marking a critical juncture for the nation’s burgeoning crypto sector.
On Aug. 9, the CMB announced that 47 cryptocurrency companies had initially applied for licenses under new regulatory frameworks. This list, however, has now expanded to 76, with notable additions such as Coinbase, KuCoin and Gate.io.
Market intelligence platform Chainalysis says losses from crypto theft and ransomware attacks have increased over the past year as attackers employ a new strategy to collect more from their victims. In a new report, Chainalysis says that stolen fund inflows nearly doubled from $857 million to $1.58 billion despite a general decline in illicit transactions. […]
The post Crypto Ransomware Inflows Rise As Attackers Shift to Targeted, ‘Big Game Hunting’ Strategy: Chainalysis appeared first on The Daily Hodl.
Cryptocurrency hackers have been returning to their roots to targeting centralized exchanges amid a spike in the Bitcoin price in 2024.
A new report indicates that while overall illicit transactions in cryptocurrency markets declined in 2024, certain types of crypto-related criminal activity rose.
Aggregate illicit activity in crypto has dropped 19.6% year-to-date (YTD), falling from $20.9 billion to $16.7 billion by July 2024, according to the first part of the mid-year crypto crime update by Chainalysis released on Aug. 15.
Chainalysis found that legitimate crypto activity has been growing faster than illicit activity onchain in 2024, particularly due to positive industry events like the adoption of spot Bitcoin (BTC) and Ether (ETH) exchange-traded funds (ETFs) in the US.
More than 2,000 compromised cryptocurrency wallets belonging to Australians were recently uncovered during a global operation targeting cryptocurrency scammers. The Australian Federal Police is reportedly investigating Australian losses identified in “Operation Spincaster” and gathering intelligence on scammer tactics. Gathering Intelligence on Scammer Tactics The Australian Federal Police (AFP) recently discovered more than 2,000 compromised cryptocurrency […]
Stronger threat assessments are needed to catch “seedy financial enterprises” facilitating money laundering schemes,” US Senator Charles Grassley said.
Two United States Senators have introduced a bill aimed at expanding the Secret Service’s powers to combat cryptocurrency-related crime.
The “Combatting Money Laundering in Cyber Crime Act of 2024” bill was introduced by Nevada’s Catherine Cortez Masto and Iowa’s Charles Grassley on Aug. 2.
It would expand the Secret Service’s authority to investigate cryptocurrency transactions made by unlicensed money transmitting businesses and potential frauds committed against US financial institutions.
Chainalysis’ Operation Spincaster found over 2,000 Australian-owned crypto wallets were hit by “approval phishing” scams.
The Australian Federal Police says its investigating losses from a spate of crypto phishing scams, which have impacted at least 2,000 Australian-owned crypto wallets.
It follows a Chainanalysis investigation — named Operation Spincaster — which found thousands of crypto wallets belonging to Australians had been exploited via “approval phishing” tactics.
“The intelligence we have gathered collaboratively throughout Operation Spincaster has shed a clear light on new tactics being used by cybercriminals in their continued efforts to defraud Australians,” AFP Detective Superintendent Tim Stainton said in an Aug. 4 statement.
Amidst a legal challenge, Tether, the USDT stablecoin issuer, has made a strategic appointment. The Chief Economist of crypto surveillance company Chainalysis, Philip Gradwell, has been brought on board as Tether’s Head of Economics. This move comes at a time when Tether and its sister crypto exchange Bitfinex are facing a class action lawsuit. The […]
Crypto analytics firm Chainalysis has previewed an in-depth report on money laundering within the crypto space, providing insights into tracing illicit funds and advanced identification techniques. The firm discovered that since 2019, nearly $100 billion has been transferred from known illicit wallets to conversion services. The report underscores the need for broad expertise among law […]
Blockchain analytics firm Chainalysis has found that law enforcement finds cryptocurrency relevant to many investigations and holds positive overall views. The firm also notes the growing adoption of cryptocurrency and its increased criminal exploitation, including intellectual property theft and drug trafficking. Despite the availability of various tools, many respondents are dissatisfied with current resources, highlighting […]