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International Business Times
International Business Times
Business
Marvie Basilan

Crypto Scammers Adopting New Tactics, Including 'Regeneration': Chainalysis

Crypto Chainalysis
The recent patterns of crypto fraud operations highlight how scammers are evolving with in the digital era. (Credit: Bybit/flickr.com)

KEY POINTS

  • Chainalysis found that the number of days scams were running have decreased in recent years
  • Scammers are regenerating their operations to avoid getting discovered by authorities
  • Pig-butchering has become the most lucrative type of scam in crypto so far this year

The cryptocurrency industry has long been rife with scams and frauds, but in recent years, scammers have been adapting their on- and off-chain tactics to keep the operations going, a new report from leading blockchain analytics firm Chainalysis revealed.

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