2024 Crypto Crime Trends
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The increasingly sophisticated methods and technologies used by criminals to increase their anonymity on the blockchain put us at great risk and make it more and more difficult to fight back. To prepare and explore the issue of digital fraud in more detail today, we have prepared an article for you about crypto crime trends of 2024.

Types of Crypto Crimes

Despite its positive aspects and security protocols, blockchain is still the ground for the rise of crypto crime today. Let's take a look at the main types of crypto crimes:

  • Cryptocurrency Scam: Due to its decentralized nature, anonymity and regulatory issues, digital assets today are perfect for criminals using them for fraud. Therefore, during the successful development of virtual money, the world of cryptocurrency and crime has also evolved and can now take many forms. These include scam projects, Ponzi schemes, phishing and investment scams.

  • Cryptocurrency Theft: Unfortunately, the world of digital currency does not go without theft. Many criminals use a variety of hacking techniques to achieve their goal, including social engineering, cryptocurrency cybercrime strategies, public wi-fi, social media or phishing. And in 2023 alone, according to data, hackers stole a total of $1.8 billion worth of cryptocurrency.

  • Darknet Markets and Illegal Trading. There are websites for illegal trading hosted on the darknet as hidden TOR services that allow access to such platforms and provide anonymity of use. These websites are used to trade things that are prohibited by law and considered illegal. This includes, for example, drugs or arms trafficking. In this type of crypto currency crime, cryptocurrency, again due to its anonymity and global nature, acts as an aide and a means to profit from illegal activities.

  • Pump and Dump Schemes: In a world full of cryptocurrency financial crime, pump and dump schemes require special attention. These schemes are well thought out strategies in the cryptosphere to draw attention to a particular coin and then capitalize on its sales when its price has skyrocketed. It is not uncommon for scammers to make false claims on social media and crypto forums, which can raise demand and hype in the market before selling off their assets at artificially inflated prices.

Threats in the Crypto Crime Space in 2024

The year 2024 has just begun and heralds quite a few changes in the cryptocurrency industry that could trend on certain threats in the crime and cryptocurrency space.

  • Smishing: This type of threat in the cryptos and crime world involves a social engineering attack that uses fake mobile text messages. SMS messages are often sent from an unknown number and contain a message asking for confidential information, installing malware on a device, clicking on a link, or transferring money to those behind the cryptocurrency and cyber crime synergy. Many people fall for this trick, because the content of SMS messages often contain a text where your relative or friend is supposedly in trouble and expects you to help them financially, or messages where links to fake raffles or cryptocurrency giveaways are sent on behalf of exchanges.

  • AI Threats: Artificial intelligence continues its active development in all industries, including the crypto and crime spaces. Tools such as voice copying, deepfakes or creating texts of official documents for the purpose of forgery are becoming increasingly sophisticated and accessible to criminals. Therefore, this year it is possible that you will receive a call from your loved ones asking for urgent financial assistance, or you will be sent an AI-generated video with a similar message.

  • Fake Trading Bots: This scheme poses a great danger to the safety of your funds. If you use blockchain crime fake bots for trading or monitoring the cryptocurrency market, you may end up finding out that your linked wallet is empty for some reason and all your funds are missing from it. So be careful and don't blindly trust suspicious platforms that promise incredibly huge profits.

  • Business and Employment Fraud: This cryptocrime involves the use of hard-to-detect techniques to steal data or money through employment. For example, after a job interview where nothing seemed suspicious, an employer may send you an email that, once opened, criminals can steal the private data and gain access to your device. Or there are hidden pyramid schemes where some company promises easy income if you buy a program they offer.

2024 Crypto Crime Trends

Strategies for Combating Crypto Crime in 2024

You can follow the following strategies to effectively fight crime crypto:

  • Stay up-to-date with everything that is happening in the crypto market. If you have up-to-date information about the trends of the crypto world, you will be able to analyze the alleged cryptocurrency related crimes and prepare yourself to fight them. To avoid worrying about which platform to study news and information about digital assets, we suggest you follow our Cryptomus blog, where we regularly cover all aspects of the cryptocurrency industry.

  • In the fight against AI theft, many advise creating a family password to prevent scams when you get a call where your loved one's AI-generated voice asks you for financial help.

  • Keep your devices and antivirus software up to date to combat financial crime cryptocurrency. And use additional security tools, such as browser extensions or 2FA on social networks.

  • Do not fall for suspiciously attractive cyber crime cryptocurrency offers and do not click on links of unknown origin, no matter if they come via email or SMS.

Regulatory Responses to Crypto Crime in 2024

Cryptocurrency criminals are hard to catch. Due to the anonymous nature of digital currencies and the difficulty in regulating them, authorities are increasingly having trouble catching criminals and are finding many obstacles in investigating their crimes. However, today, many cryptocurrency providers and services offer solutions for their users to help resolve fraudulent transaction scenarios. For example, on the P2P platform Cryptomus, in case something goes wrong during a transaction, each trader can open a dispute on the platform and specialists will help resolve the issue. And this is just one example of such tools regulating crypto currency crime.

Here we conclude this article about what is crime cryptocurrency. We hope it was useful for you. Don't forget to share your predictions about cryptocurrency crimes in 2024 below in the comments.

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