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Gartner predicts that by 2024 the number of criminal transactions or transfers related to digital assets will decrease by 30%.
At the end of last year, an increase in the number of cryptocrimes was recorded. According to news.bitcoin, Gartner expects that over the next 3 years, the number of “successful thefts”, as well as payments sent to ransomware, will decrease by 30%. According to Gartner, this kind of decline will be due to the “inability of criminals to move and spend funds outside the blockchain networks.”
Gartner explains that they based this forecast on 4 leading factors, one of which is the transparency of blockchains, which makes them far from ideal for criminals. Explaining why such transparency is leading, the blog notes:
Contrary to popular belief, cryptocurrencies are not a safe haven for criminals anonymous. In fact, armed with smart analytics, it is easier to track money flows on blockchains than on legacy payment networks, no matter how roundabout they take.
In addition, the article mentions 23 blockchains, which, according to the authors, “account for approximately 99% of the market capitalization of all blockchains.” According to Gartner, it is easier to integrate the right anti-malware systems with 23 blockchains than with thousands of enterprise systems and payment networks.
The company’s specialists note that although the transformation of blockchain metadata into useful data for law enforcement may seem difficult, it is still possible and can become very effective when dealing with suspicious payments or addresses.
Another point that, according to the Gartner blog, will have a positive effect on reducing cryptocrime is the democratization of fraud prevention tools that are currently used by blockchain research firms.
For example, companies like Chainalysis, CipherTrace, Elementus and TRM Labs provide valuable information to authorities who need forensic expertise to investigate hacker attacks. Increasingly, DeFi exchanges and protocols are using their software to prevent fraud. However, if such tools can be directly purchased by individual users, then they will receive advance warnings before sending their assets to the address of criminals.
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