PANews reported on February 13 that according to CNBC, blockchain research firm Chainalysis warned in a report released on Thursday that as cyber criminals use artificial intelligence and become more organized, "pig killing" scams have surged, and cryptocurrency fraud revenue is estimated to have hit a record high last year.

According to its preliminary estimates, crypto wallets associated with fraud received $9.9 billion in cryptocurrency in 2024. The company predicts that the 2024 figure will grow to a record $12.4 billion as Chainalysis discovers more fraud wallets. Chainalysis added that its annual estimates of fraud activity in the annual reporting period have increased by an average of 24% since 2020, and the main reason for the increase in fraud revenue is the prevalence of "pig killing" scams.

Chainalysis said that in 2024, the revenue of "pig killing plate" fraud increased by nearly 40% year-on-year, and the number of deposits in "pig killing plate" fraud increased by nearly 210% during the same period. The company said that these different growth rates indicate that the victim base is expanding, and scammers are more inclined to target more victims at the cost of smaller payments. Although "pig killing plate" fraud mainly originates from large fraud dens in Southeast Asia, the report pointed out that there are signs that these fraud centers have begun to become more geographically dispersed.