TechFlow news, on August 16, according to The Block, blockchain analytics firm Chainalysis released a new report showing that since the beginning of this year, illegal cryptocurrency activities on-chain have decreased by nearly 20%, yet incidents involving stolen funds and ransomware attacks have shown an upward trend.
The report indicates that the total value of illegal activities dropped from $20.9 billion to $16.7 billion, a decline of 19.6%. At the same time, inflows into legitimate services reached their highest level since the 2021 crypto bull market, reflecting the ongoing global adoption and popularity of cryptocurrencies.
Although overall cryptocurrency-related criminal activity has declined, inflows of stolen funds have nearly doubled, rising from $857 million to $1.58 billion; ransomware-related inflows increased by approximately 2% to $459.8 million. The report highlights that the average amount of cryptocurrency stolen per incident rose by nearly 80%, partly due to the rising price of Bitcoin.
