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Harshajit Sarmah
Founder & Editor of ... • 1y
Crypto is starting to become more accepted, especially after the approval of #Bitcoin and #Ethereum exchange-traded funds (ETFs) in the U.S. and changes to accounting rules by the Financial Accounting Standards Board (FASB). However, like with any new technology, both good and bad actors are getting involved. And while illegal activities in crypto have decreased this year, Chainalysis reports some concerning trends with crypto being sent to cybercrime-linked groups. 👉 Overall illicit crypto activity dropped 20% in 2024, but stolen funds nearly doubled to $1.58 billion, with Bitcoin making up 40% of theft volume. 👉 Ransomware payments increased to $459.8 million, with the largest single payout of $75 million made to the Dark Angels group. 👉 Criminals are shifting focus back to centralized exchanges, with the average crypto heist value increasing 80% to $10.6 million per event in 2024.
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