**Crypto Scammers Shift Tactics Amid Law Enforcement Crackdown**

Crypto scammers are evolving! According to Chainalysis' mid-year update, published on Aug. 29, there's a notable rise in "pig butchering" scams in 2024. These scams, which involve building online relationships to lure victims into fraudulent crypto investments, are becoming more common as law enforcement gets better at busting longer Ponzi schemes.

Key points:

- Scam lifespans have dropped from 271 days in 2020 to just 42 days in 2024.

- 43% of scam inflows this year are linked to new wallets.

- Scammers are buying seasoned social media profiles to enhance their schemes.

Chainalysis highlights that law enforcement's effectiveness has forced scammers to adapt quickly, making them harder to track but not impossible to catch.