TL; DR
-
Good news: Crypto crime is down 29%
-
Bad news: The numbers for 2023 only look good because the 2022 numbers were so bad.
-
The tidy $8.7 billion that FTX owed its users/creditors in 2022 inevitably tipped the balance in 2023’s favor. It’s not great, but we’ll take it!
Full story
In the words of our incarcerated neighbor, Dave, who collects vintage milk bottles and is strangely knowledgeable about the life and career of Fran Drescher:
“The great thing about hitting rock bottom is: It can’t get any worse.”
Yes, this story follows a similar theme.
Let’s start on a positive note…
Good news: Crypto crime is down 29%.
According to a report According to Chainalysis, the amount of crypto stolen through scams last year was almost a third less than in 2022, while illegal revenue fell by more than 54%.
Bad news: The numbers for 2023 only look good because the 2022 numbers were so bad.
If you’re looking for someone to point the finger at, we’ve got you! Look no further than Samuel Benjamin Bankman-Fried and his famously bankrupt company FTX.
The tidy $8.7 billion that FTX owed its users/creditors in 2022 inevitably tipped the balance in 2023’s favor.
These are not ideal circumstances…
But we’ll take it.
