A look at crypto money laundering in 2022: illicit addresses sent nearly $23.8B, up 68% YoY, four addresses got $1B+ combined, DeFi got record funds, and more
The 2023 Crypto Crime Report — Money laundering is crucial to all financially motivated crime because it's what enables criminals …
A new report from Chainalysis finds that criminals have fewer cryptocurrency money laundering options than they have in a decade. It could be a sign that a years-long crackdown on dirty crypto cash-out options is working: https://www.wired.com/... https://twitter.com/...
1/ Mixers processed $7.8Bn in 2022, 24% of which came from illicit addresses, whereas in 2021, they processed $11.5Bn, only 10% of which came from illicit addresses. In this 🧵 we break this down👆along with a few other #crypto money laundering trends. https://blog.chainalysis.com/…
8/ The data suggests most crypto money laundering is facilitated by a small group of people. 4 deposit addresses cracked $100M in illicit crypto received in 2022, & together received a combined $1.1B. The 1.2M deposit addresses receiving under $100 account for $38M.
Law Enforcement and Regulatory pressures have driven ransomware laundering to a small concentration of cashout destinations. Just 21 deposit addresses account for 50% of all funds sent from ransomware to fiat off-ramps last year. 🧵 https://blog.chainalysis.com/ ...
In our 2022 Crypto Crime Report, Bitzlato was an example of a Russia-based crypto service that facilitated money laundering. At that time, we found that a large share of all funds received by Bitzlato between 2019 & 2021 came from risky or illicit sources. https://blog.chainalysi…
Analysis via @chainalysis details money laundering for #ransomware “going to mainstream exchanges grew from 39.3% in 2021 to 48.3% in 2022, while the share going to high-risk exchanges fell from 10.9% to 6.7%” https://blog.chainalysis.com/ ... #malware #infosec #cybersecurity htt…
7/ Money laundering activity is also quite concentrated if we zoom in to the deposit addresses receiving illicit funds at fiat off-ramps. The graph below shows all deposit addresses that received illicit crypto in 2022, bucketed by the range in value of illicit funds received. ht…