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2024 Pig Butchering Crypto Scam Revenue Grows 40% YoY as Industry Increases Sophistication

In 2024, cryptocurrency scams received at least $9.9 billion on-chain, an estimate that will increase as we identify more illicit addresses associated with fraud and scams in the coming months. According to our metrics today, it looks like 2024 saw a drop in scam revenue; however, 2024 was likely a record year as these figures are lower-bound estimates based on inflows to the scam addresses we’ve identified up to today. A year from now, these totals will be higher, as we identify more illicit ad...

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