14.02.2025 13:11
According to the Chainalysis report, cryptocurrency frauds increased by 40% in 2024. In particular, Huione Guarantee played a critical role in fraudulent activities, facilitating the flow of large amounts of cryptocurrency.
Chainalysis's latest report reveals a significant increase in cryptocurrency fraud cases in 2024. Long-term fraud methods and sophisticated fake job offers are among the new strategies employed by scammers. The emergence of Huione Guarantee as a hub for these frauds has raised further concerns.
AI-Powered Fraud Methods Increased by 1900%
According to Chainalysis's latest report, 2024 witnessed record increases in cryptocurrency fraud. Notably, a 40% increase was observed in long-term trust-based fraud methods known as "pig butchering" compared to the previous year. Despite a 210% increase in the amount of cryptocurrency obtained through this method, the average investment amount decreased by 55%, indicating a shift in the scammers' tactics.
Fraud rings based in Southeast Asia have increased their global impact, turning to new methods that yield quick results, such as fake job offers. The platform named Huione Guarantee, which has facilitated $70 billion in cryptocurrency transactions since 2021, has provided scammers with technological infrastructure and support.
According to the report, scammers seized a total of $9.9 billion worth of cryptocurrency in 2024. The amount of fraud occurring through the Huione Guarantee platform reached $375.9 million. The platform also enabled scammers to produce more convincing fake content with a 1900% increase in AI services.
Among the other notable types of fraud in 2024, address poisoning stood out. This method, which saw a 15,000% increase following a major attack in May 2024, raised security concerns in the market alongside other methods such as live-stream fraud and extortion. Chainalysis aims to enhance security in the cryptocurrency market using this data.