Crypto Scammers Shift Tactics to Shorter, More Targeted Campaigns

A new Chainalysis report highlights the rise of 'pig butchering' scams as criminals adapt to evade law enforcement.

The average lifespan of crypto scams has dropped from 271 days in 2020 to 42 days in 2024.
'Pig butchering' scams involve building online relationships to deceive victims into fraudulent investments.
43% of scam inflows in 2024 went to wallets that became active this year, indicating a surge in new scams.
Social media profiles are increasingly purchased to facilitate these scams, with over $10 million in crypto flows to illicit services.
Huione Guarantee, an online marketplace, has processed $49 billion in crypto transactions, some linked to criminal activities.