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May 18, 2025
March 5, 2025

Record-Breaking Crypto Scams Boost Compliance Roles in 2024

If you’ve been in crypto long enough, you’ve probably had that moment—the one where you see a project implode overnight, taking millions with it. For me, it was last year when a promising DeFi startup I was tracking turned out to be an elaborate rug pull. Investors? Wiped out. Founders? Vanished. And just like that, another entry in the long list of record-breaking crypto scams made headlines.

The thing is, 2024 isn’t just another year for crypto scams—it’s the worst one yet. The numbers are staggering, compliance teams are scrambling, and hiring trends? They’re shifting fast. Let’s break it down.

2024’s Crypto Scams Shattered Records

This year, crypto scams didn’t just increase—they exploded. According to blockchain analytics firm Chainalysis, we saw a 65% rise in fraudulent schemes, surpassing even the chaos of previous years.One of the most notorious? A so-called ‘AI-powered’ trading platform that promised guaranteed returns and amassed over $500 million before its founders disappeared. It was a classic Ponzi scheme wrapped in a high-tech sales pitch.And let’s not forget the Lazarus Group, the infamous North Korean cybercriminals who ramped up their crypto heists in 2024, draining exchanges and DeFi platforms at an unprecedented rate.

Why Compliance Teams Are Now in the Spotlight

A couple of years ago, compliance roles in crypto were often seen as a ‘nice to have.’ In 2024? They’re a necessity. Firms are hiring compliance officers like never before, not just to prevent fraud but to stay ahead of increasingly strict regulations.

Governments worldwide are tightening the screws—especially after record-breaking crypto scams like HyperVerse, a multi-level marketing scheme that lured in thousands before collapsing. Regulators in the US, UK, and Europe are imposing tougher KYC/AML requirements, and companies that don’t invest in compliance risk being shut down.

I’ve seen this shift firsthand. Firms that once prioritised developers and marketers are now aggressively hiring compliance experts, especially those with blockchain forensics experience.

Recruiting for Compliance? The Demand is Insane

If you’re in crypto recruitment (like I am), you know that finding experienced compliance professionals is becoming a nightmare. Why? Because demand has outstripped supply.Companies don’t just want someone who understands traditional compliance—they need blockchain-native experts who can track on-chain activity, identify suspicious transactions, and work with regulators.One trend I’ve noticed? Former law enforcement officials are entering the crypto space in droves. Ex-FBI, ex-Interpol, and even ex-Treasury professionals are being headhunted by top firms.

Lessons from the Frontlines of Crypto Hiring

Let’s talk about what’s working—and what’s not.✅ What Works:

  • Hiring compliance teams before a company scales, not as an afterthought.
  • Investing in blockchain analytics tools like Chainalysis and TRM Labs to automate fraud detection.
  • Offering competitive salaries—because traditional finance firms are also hunting for the same talent.

❌ What Doesn’t Work:

  • Thinking generic finance compliance experience is enough (it’s not—crypto moves too fast).
  • Relying solely on in-house teams without external consultants.
  • Ignoring regulatory changes until it’s too late.

If 2024 has proven anything, it’s that crypto scams aren’t going away—but companies that prioritise compliance can stay ahead. The industry is shifting, and those who adapt will thrive, while those who ignore the signs? Well, they might just be the next headline.Are you seeing the same hiring trends in your network? Let’s talk in the comments.