I guess not everything is bad when it comes to Bear Markets. This was a nice bit of news that was shown in a new report recently published by Chainalysis. In it, they go through the different types of illicit activity, like scams, hacks, and the darknet. And show how they have changed from year to year. It is an interesting read, the link to it is down below.
Rain and roses in the bear market
The good part as I said is that the value of the funds scammers got has dropped 15% for this year. So it is tracking below both 2021 and 2019. But on the other hand, the total value of the normal transactions for the same period is down a whopping 36%.
But it is pretty hard to compare year to year as the total value of the crypto market has changed so much over the last couple of years.
If we take a look at the total value of the scams so far, we can see that so far we are at an all-time low. Which I would say is a great trend that needs to continue. And may we never have another 2019, the year of the scammer.
Even the total value received at dark net markets is substantially lower than compared in 2021 and 2020.
But sadly not all the bad numbers are pointing down. The number of Hacks is still much higher than the previous year. If this is due to an increased level of security. Or simply because the infrastructure and value were not percents earlier. Is sadly something I can only speculate on. And perhaps it is a combination of both.
But while the overall numbers seem to be pointing down. We should note that the jury is still out on 3AC, Celsius, and LUNA. And depending on the verdicts there, those numbers can singlehandedly turn the data on its head.
What is your thought on this is it an unexpected surprise or just what is to be expected? Please share your thoughts on this in the comment section down below. If you would like to support me and the content I make, please consider following me, reading my other posts, or why not do both instead.
See you on the interwebs!
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