Web3 Crime Trends: Who Is the Hottest Target?

Web3 Crime Trends: Who Is the Hottest Target?

The share of illicit crypto activity associated with illicit wallets is the lowest in five years.
DeFi protocols dominate as the main target of hacks. 
The monthly value received by crypto scams is declining.

The year 2022 was anything but boring. A stablecoin crashed, lending protocols vanished, crypto empires crumbled, and the harsh bear market settled. 
Nevertheless, the use of digital currencies is evolving and keeps moving rapidly. But as the crypto space constantly changes, so does the criminal world.
DailyCoin talked to Diederik van Werch, Director of Mid-Market EMEA at blockchain analysis firm Chainalysis on the latest trends in crypto-based crimes, why they occurred, and where they are heading in 2023.

Source: Web3summit.lt (Photo by Gediminas Gražys)

Criminal Activity: Smaller, but Still Resilient Part of Web3

In 2021, crypto-related crimes reached a record $14 billion of the total value transferred on the blockchain. The number is almost twice

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