Crypto Crimes Drop in 2023 But Romance Scams and Ransomware Rise
• Crypto crimes overall dropped sharply in 2023 after hitting a record high in 2022, but experts warn criminals are getting better at covering their tracks
• Crypto scamming and hacking revenues saw significant declines - scamming fell 29.2% and hacking fell 54.3%
• However, some crypto crimes rose in 2023 - notably ransomware and darknet market fraud revenues
• Many scammers have shifted tactics, relying more on romance scams targeting individuals rather than openly advertising fraudulent investment opportunities
• Experts warn romance scams are underreported so the true damage of crypto scamming may be greater than official metrics show