Crypto Crime Mid-year Update: Crime Down 65%, 33 Crypto Myths Busted, and more!

Welcome to the Chainalysis Monthly Roundup newsletter! Each month we capture the most notable news in crypto and at Chainalysis.

Crypto Crime Mid-year Update: Crime Down 65% Overall, But Ransomware Headed for Huge Year Thanks to Return of Big Game Hunting

2023 so far has been a year of recovery for cryptocurrency after a chaotic 2022, with prices of digital assets like Bitcoin up over 80% on the year as of June 30. And that’s not the only good news for the industry. Our data shows that cryptocurrency-related crime is down significantly this year. Read on to learn more about what’s happening with crypto crime so far in 2023.

[REPORT PREVIEW] The Chainalysis Crypto Myth Busting Report

We're setting the record straight and tackling the most prevalent #crypto myths related to safety and security, legitimacy, viability, and scalability. Our report dispels misconceptions by tackling 33 myths. Check out our preview, where we share five myths covered in the report.

Chainalysis In Action: Israeli Authorities Disrupt Hezbollah and Iran Quds Force Terrorism Financing Crypto Infrastructure, Seize $1.7 Million in First

On June 27, 2023, Israeli Defense Minister Yoav Gallant announced an important achievement in the disruption of terrorism financing: Israel’s National Bureau for Counter Terror Financing (NBCTF) has, for the first time ever, seized cryptocurrency from Hezbollah, a heavily sanctioned terrorist group based in Lebanon, and from Iran’s Quds Force, which funds and works extensively with Hezbollah. We’re proud to say that Chainalysis tools played a role in this landmark national security achievement. 

MiCA - Opportunities and Challenges of Crypto Regulation in Europe

While the legislative process may have come to a conclusion, this is only the beginning of the MiCA marathon. Watch Janet Ho, Head of Policy for Europe at Chainalysis, as she examines the implications of the legislation. 

Public Key: Exploring the Complexities of Digital Asset Taxation and Crypto Accounting

Many individual users and institutional companies are still attempting to figure out how to accurately report their taxes and hold crypto and other digital assets on their balance sheets. Both areas are complex, so this week on the Public Key podcast, host Ian Andrews spoke with tax and accounting experts from TaxBit, Ann Jaskiw, VP of Engineering, and Austin Woodward, Co-Founder, and Executive Chairman, to understand the nuances of effective digital asset and crypto accounting practices.

You can listen or subscribe now on Spotify, Apple, or Audible. 

Who Are We?

Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world's most high-profile criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.

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