Chainalysis: Amount of Illegal Activity Involving Cryptocurrencies Declines by 15% by July 2022

According to a report by Chainalysis, a blockchain data analysis service provider, as of July 2022, the number of illegal activities involving cryptocurrencies has dropped by 15%, compared with a 36% drop in legal transactions. Total fraud revenue in 2022 is now $1.6 billion, 65% below the level as of the end of July 2021. This decline seems to be related to the decline in the prices of different currencies. Potential offenders are less attractive. Additionally, darknet market revenues have also declined significantly in 2022 and are currently 43% below July 2021 levels. But hacks and stolen funds have increased, with $1.9 billion worth of cryptocurrency stolen in service hacks by July 2022, compared to less than $1.2 billion at the same point in 2021.