Crypto scam revenue plunged by 46% in 2022: Report

02/19 23:48

According to Cryptopotato, last year was less profitable for crypto scammers as their revenue plunged nearly 50% in 2022, according to a new study by blockchain analytics firm Chainalysis. The blockchain company noted that the decrease in revenue could be linked to the decline in the value of cryptocurrencies due to the correlation of most scam types with bitcoin’s price. From a record of $10.9 billion in 2021, crypto scam revenue dropped to $5.9 billion. Notably, the majority of scams in 2022 were investment types, and as a category, they generated the most revenue last year despite the overall decline.

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