It turned out that the damage amount of virtual currency crime in the first half of 2023 decreased by 65% compared to the previous year, while the damage amount of ransomware attack increased significantly
In 2022, the price of Bitcoin and other virtual currencies
2023 Crypto Crime Mid-year Update: Crime Down 65% Overall
https://blog.chainalysis.com/reports/crypto-crime-midyear-2023-update-ransomware-scams/
Ransomware payments on record-breaking trajectory for 2023
https://www.bleepingcomputer.com/news/security/ransomware-payments-on-record-breaking-trajectory-for-2023/
Ransomware gangs have extorted $449 million this year: Chainalysis
https://therecord.media/ransomware-gangs-extorted-record-amounts
The following graph released by Chainalysis shows the amount of virtual currency inflow to `` Legitimate (legal service: left) '', `` Risky (dangerous service: medium) '' and `` Illicit (illegal service: right) '' by year. represented in a graph. In both graphs, the inflow amount in 2021 (blue) was the most active in the cryptocurrency industry, followed by 2022 (pink) and 2023 (orange). We can see that while the inflows to legitimate services will not change much between 2023 and 2022, the decline in inflows will be greater for risky and illegal services.
According to Chainalysis, “By the end of June 2023, cryptocurrency inflows to known illegal entities have decreased by 65% compared to the same period in 2022. Inflows to risky entities have decreased by 42%. Of course, trading volumes are down overall, but the decline is much smaller for legal services, with inflows falling only 28%.In other words, the cryptocurrency market. 'Although the market is receding, illicit cryptocurrency trading volume has declined much more than legal cryptocurrency trading volume.'
Looking at the graph below showing the amount of money that flowed into the virtual currency wallet associated with a specific crime, ``Hacks'', ``Other malware'', ``Darknet market'', ``Child You can see that the amount of damage has decreased in most categories such as abuse material (child abuse content), 'Fraud shop', 'Cybercriminal administrator', and 'Scams'. .
Among them, virtual currency fraud will cause about $3.3 billion (about 460 billion yen) less damage by the end of June 2023 compared to the same period in 2022, and the total annual damage will be about $1 billion (about 140 billion yen). ) is expected to be slightly higher. In 2022, the amount of damage caused by cryptocurrency fraud decreased compared to 2021, but in 2022, the decrease occurred while the cryptocurrency market crashed. Chainalysis points out that the spike is different.
Chainalysis explains that the reason for the decline in cryptocurrency fraud is that major cryptocurrency fraud players have stopped their activities. Two fraudulent companies, VidiLook and Chia Tai Tianqing Pharmaceutical Financial Management, were conducting typical investment scams to raise funds by claiming to offer large returns on the cryptocurrency invested by users. VidiLook slightly modified this system and adopted a method of 'distributing virtual currency tokens in return for viewing digital advertisements'.
According to Chainalysis, these players withdrew all cryptocurrency wallets from their primary wallets and stopped withdrawals by users. This is called
Ransomware attacks, which encrypt data on devices and demand ransoms, are the only crime category that has seen an increase in damages compared to the same period before 2022. In comparison, it increased by 175.8 million dollars (about 24 billion yen).
Below is a graph comparing the amount of damage caused by ransomware attacks in 2022 (orange) and 2023 (blue). The pace of damage in 2023 is significantly higher than in 2022, reaching 90% of the total damage in 2022 as of the end of June.
Chainalysis cites ``Increase in successful attacks on small targets'' and ``Increase in attacks on targets with large funds'' as reasons why the damage amount of ransomware attacks is increasing. The graph below shows the percentage of damage caused by ransomware attacks from the first half of 2020 to the first half of 2023. It can be seen that in the first half of 2023, compared to the previous half, the number of low-value attacks increased, and the number of high-value damage also increased.
According to Andrew Davies, a corporate lawyer for cyber security company Kivu , in recent years, due to the strengthening of cyber security and crackdowns by law enforcement agencies, the number of companies that do not pay ransom for ransomware attacks is increasing. On the other hand, ransomware groups are said to be shifting to a method of increasing the amount of ransom and squeezing more from companies that respond to payment.
“Cryptocurrency crime across the board, excluding ransomware, will plummet in 2023,” Chainalysis said. argued that the reduction in crime was welcome but continued vigilance.
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in Security, Posted by log1h_ik