The report highlights a decline from $49.5 billion in 2022 to $34.8 billion in 2023, signaling a proactive stance against fraudulent activities. What’s intriguing is that this reduction outpaced the overall cryptocurrency transaction volume decline, which stood at 22% during the same period. Such a development underscores concerted efforts by both regulatory bodies and industry stakeholders to bolster security measures and weed out bad actors from the system.·
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