Setting aside the criminal examinations of stopped working crypto companies like FTX, Celsius, 3AC, Terra and others, 2022 set the record in illicit on-chain transactions. According to a yearly report released by Chainalysis on Jan. 12, the overall cryptocurrency worth gotten by illicit addresses reached $20.1 billion in the last year.The numbers aren’t final, as the step of illegal transaction volume grows gradually as the experts determine brand-new addresses related to criminal activity. Moreover, it doesn’t include profits from non-crypto native crimes like drug trafficking and the funds on the balance of those stopped working companies, which are now under examination in numerous jurisdictions around the world. At this moment, the total value of$20.1 billion surpasses the exact same procedure

in 2021($ 18 billion)somewhat by 10%. However, it still represents an all-time record and significantly (by 60%) goes beyond the 2020 markers, which stand at$ 8 billion. Such numbers can be described by the reality that 44%of 2022’s illegal transactions account for approved entities– in 2015, the United States Office of Foreign Assets Control(OFAC )introduced some of its”most enthusiastic and difficult-to-enforce” crypto sanctions. Sanctions-related deal volume increased so considerably that it couldn’t even be included on the charts due to scale issues. Chainalysis evaluates this growth at the 10% million mark. Related: Sanctions could not’ pull the plug’on Tornado Cash: Chainalysis The report points out an example of the crypto exchange Garantex. This Russian platform continued to operate while being noted on the OFAC sanctions register in April, and it hosted the majority of sanctions-related transaction volume in 2022. Cast your vote now!As Eric Jardine, Cybercrimes Research Lead at Chainalysis, described to Pandoraland, the report counts wallets as “illicit”in case they become part of a known illegal entity, such as a darknet market or approved platform. Individual or unhosted wallets may be tagged as illegal if they are holding funds stolen in a hack. However:”If a personal/unhosted wallet sent out cash to Tornado Cash after its designation, thatwallet would not be tagged as illegal for that activity, but the transaction volume would be considered”illicit “since it involves funds received by an illegal entity.”In early January, the United Kingdom’s National Cyber Crime Unit (NCCU)released a cryptocurrency unit to examine U.K. cyber events involving the use of cryptocurrencies. This relocation aims to increase enforcement concentrate on crypto properties in the U.K.

amid the government’s call to eliminate “filthy cash”in the country.