After 2022, complete with bankruptcies, crimes and huge losses, the first half of 2023 has been a year of recovery for the cryptocurrency industry. During the same period, crypto crimes also showed a decreasing trend. According to a new report, crypto crimes decreased by 2023% in the first half of 65 compared to the same period of the previous year.
The bankruptcies of popular cryptocurrency and blockchain companies, back-to-back fraudulent news, fluctuations and losses due to tightening economic policy have made 2022 one of the most difficult years ever for cryptocurrencies. The first half of 2023, on the other hand, was a period when digital assets such as Bitcoin gained more than 80% value, the turbulence in crypto calmed down a bit and market confidence increased. A similar recovery has been seen in crypto-based crimes, according to data from blockchain analytics company Chainalysis. According to the research, crypto crimes decreased by 2023% in the first half of 65 compared to the same period of the previous year.
Revenues of scammers decreased by 77%, fell to $ 1,1 billion
The report, which draws attention to the fact that fraud is the most profitable way for cybercriminals among crimes based on cryptocurrencies, also examined the situation of illegal revenues from crypto-based fraudulent activities. According to the report, revenues of crypto scammers fell 2023% in the first half of 77, from $3,3 billion to $1,1 billion. It was also reminded that fraud revenues in 2022 were less compared to 2021, and it was noted that fraud revenues showed a decreasing trend in the last two years.
Gate.io Turkey Country Manager Kafkas Sönmez shared his assessments on the subject and said, “Mostly, recovery periods are periods when investor confidence is regained and investors are more willing to take risks. In the first half of 2023, despite such a period, we see that the losses due to crypto fraud have decreased. "Decreased fraud revenues despite increasing market enthusiasm reverses this historical trend."
Ransomware is getting popular
In its semi-annual assessment of crypto crimes, it was also highlighted that ransomware attacks are the type of cryptocurrency-based crime with the highest rise so far in 2023. It was stated that criminals demanding ransom by threatening companies and individuals to share their personal information on illegal forums have earned $2023 million since the beginning of 449,1 with these activities.
Underlining that this figure is moving towards the second largest annual revenue ever achieved with ransomware attacks, Kafkas Sönmez said, “In the report published by the company in February, it was noted that ransomware-related crypto crimes decreased in 2022. The recovery seen in the cryptocurrency markets since the beginning of the year, the uncertainty in macroeconomic policies and the clearing of investors' roadmaps are encouraging ransomware attackers. Risks are increasing, especially for small-scale cryptocurrency and blockchain organizations.”
“Demand for reliable crypto exchanges will increase”
Gate.io Turkey Country Manager Kafkas Sönmez said that crypto money investors do not want to lose in 2022 after the bad 2023 and therefore they are careful when choosing intermediaries, exchanges and investment tools. It also wants to transact on platforms that are transparent and adequate in terms of security. Gate.io starts the protection of user data and funds from the first layer, with its own developed trading system, active third-party cloud security defense services, encrypted transport layer and DDoS attack-protected infrastructure, and importance it attaches to DNS security. In addition to system security, it offers more than 13 million registered users the opportunity to transact safely with its internal control processes and authorization policies during development. Gate.io, where transactions of more than 1.700 billion dollars in more than 4 cryptocurrencies are carried out without any problems every day, also provides a support infrastructure to its users in Turkey, where they can get a response 7/24. As Gate.io Turkey, we are positioned as one of the industry stakeholders that develops ethical, safe and fair cryptocurrency trading with our strong platform.”