Global Crypto Fraud Amount May Exceed 10 Billion USD in 2024

the blockchain research company Chainalysis warned that as cybercriminals use artificial intelligence (AI) and become more organized, so-called romance scams have surged, with global cryptocurrency fraud revenue estimated to have reached record levels last year. The company said in a report released on Thursday that, according to its preliminary estimates, cryptocurrency wallets associated with scams received $9.9 billion worth of cryptocurrency in 2024. The company predicts that as more scam wallets are discovered, cryptocurrency fraud in 2024 will grow to a record $12.4 billion. (Global Market Broadcast)