TechFlow reports, according to the latest Chainalysis report, cryptocurrency fraud schemes are becoming increasingly sophisticated. In 2024, scams dominated crypto-related crimes, though still accounting for less than 1% of total on-chain transaction value. The report specifically warns against "pig-butchering" scams.
To evade regulation, criminals are increasingly leveraging online marketplaces such as Huione Guarantee. Since 2021, the platform has processed $49 billion in cryptocurrency transactions, some of which may be linked to fraud and money laundering activities.
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