Chainalysis breaks down how scammers adapt during the bear market

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While the overall scam revenue dropped in 2022, a multi-level marketing scam called the Hyperverse scam still racked up around $1.3 billion.

In a crypto crime webinar focusing on crimes that affect consumers, Eric Jardine, the cybercrimes research lead at blockchain analysis firm Chainalysis,Romance and giveaway scams rose in 2022. Source: Chainalysis

“One of the new innovations in this year’s report was sub-classing scams into types. And there, what we discovered was that not all scams behaved the same way in the context of the bear market.“

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