Cybercriminals are earning less than ever.
The global lockdowns have resulted in the dip in revenues of cybercriminals who sought to make bundles of cryptocurrency during a pandemic.
According to a report by cryptocurrency crime-tracking startup Chainalysis, there has been a 33% fall in revenue, from $4.2 million to just under $2.9 million in bitcoin.
“We find that the loss of value is caused almost entirely by cryptocurrency price drops. Nearly all of these scams have received the same or more value per day in their native coins since the crisis intensified in early March,” Chainalysis stated in the report.
The report reveals as well that scammers continue to take advantage of COVID-19 fears but that their motives have not been successful.
To read the original report, click here.