Crypto scams and frauds saw a further decline, with losses totaling $52 million in May, down from $59 million the previous year.
Illicit cryptocurrency addresses experienced a notable decline in their received value within the cryptocurrency industry. The proportion of crypto transaction volume linked to illicit activities also saw a decrease. Cybercriminals are increasingly favoring stablecoins, while Bitcoin continues to play a prominent role in darknet market sales and ransomware incidents.