Rise of Ransomware and Pig Butchering: Challenges for Law Enforcement

2023 has been a bit chaotic in the crypto industry. There are more questions than anything else, but in this episode,  Ian Andrews (CMO, Chainalysis) speaks with Chainalysis’ very own Director of Research, Kim Grauer about the major events and trends in the cryptocurrency industry in 2023.

They cover topics such as the surge in asset prices, the increased focus on combating crypto crime by creative government agencies, the return of ransomware attack and the continued rise of pig butchering and investment/romance scams in the industry.

Kim updates us on sophisticated phishing schemes, the crackdown on the crypto related  fentanyl trade and the ongoing threat of North Korean hackers, and other important stats from both the crypto crime and crypto adoption index reports.

The pair highlight the growing usage of stablecoins in jurisdictions where local currency is unstable and provide statistics backing up the fact that NFTs are definitely not dead. 

• (2:10) - Introduction and discussion of the upcoming 2023 Chainalysis Crypto Crime Report
• (3:58) - Analysis of the increase in asset prices and surge in the value of Solana (SOL)
• (7:40) - Creative efforts by law enforcement in disrupting cybercrime and ransomware
• (12:35) - Overview of the Global Adoption report and its importance
• (15:27) - Middle-income countries saw a bounce back in adoption and India topped the index for the first time
• (18:50) - Stablecoins are becoming a significant part of the crypto ecosystem
• (20:45) - Ransomware and Pig Butchering activity is on the rise
• (26:02) - Fentanyl production and distribution networks mapped using cryptocurrency
• (28:15) - Concerns about North Korea's continued hacking and crypto thefts
• (30:02) - Are NFTs Dead?
  
  

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

• Website:  Chainalysis: Trusted by the world's leading financial institutions, crypto businesses and government agencies
• Chainalysis Blog:  The best content from the Chainalysis Team
• Report: The Chainalysis 2023 Geography of Cryptocurrency Report (Download Now)
• Report: The Chainalysis 2023 Crypto Crime Report (Available Now)
• Blog: Targeted Approval Phishing Scams See Explosive Growth Over Last Two Years, With At Least $374 Million Suspected Stolen in 2023
• Event: Chainalysis Links Conference NYC 2024 (Apr. 9-10, 2024) - Early Bird Pricing On Now!
• YouTube: Chainalysis YouTube page
• Twitter: Chainalysis Twitter: Building trust in blockchain
• Tik Tok: Building trust in #blockchains among people, businesses, and governments.
• Telegram: Chainalysis on Telegram 

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 
• Kim Grauer (Director of Research, Chainalysis)

This website may contain links to third-party sites that are not under the control of Chainalysis, Inc. or its affiliates (collectively “Chainalysis”). Access to such information does not imply association with, endorsement of, approval of, or recommendation by Chainalysis of the site or its operators, and Chainalysis is not responsible for the products, services, or other content hosted therein.

Our podcasts are for informational purposes only, and are not intended to provide legal, tax, financial, or investment advice. Listeners should consult their own advisors before making these types of decisions. Chainalysis has no responsibility or liability for any decision made or any other acts or omissions in connection with your use of this material.

Chainalysis does not guarantee or warrant the accuracy, completeness, timeliness, suitability or validity of the information in any particular podcast and will not be responsible for any claim attributable to errors, omissions, or other inaccuracies of any part of such material. 

Unless stated otherwise, reference to any specific product or entity does not constitute an endorsement or recommendation by Chainalysis. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent. Views and opinions expressed by Chainalysis employees are those of the employees and do not necessarily reflect the views of the company.