$20 billion in illegal crypto activity in 2022

2022, another good year for thieves – Files of chain analysis have been eagerly awaited by professionals and observers crypto. DeFi, NFT, trading platforms, their services cover all areas of the sector and offer regularly relevant industry reportse. Today we will see illegal activities IN cryptocurrency and try to understand the figures provided by this big data specialist. Head to the company’s offices on the highly prestigious 5th Avenue to take stock of the modern-day followers.

Preamble to Chainalysis Figures and Calculation Methods

Before giving raw numbers, chain analysis I would like to give some data in theirs context. Because in the little numbers game, we can make the same graphs say many different things. First accuracy, the figures for which they are given 2022 are subject to change. Indeed, as are the new scams FINDINGS IN 2023they can edit the 2022 data.

Then, it should be noted that only illegal activities tell crypto natives are counted. If you buy drugs with your BTC, technically it doesn’t matter. Last but not least, what to do with the activities of platforms under the charge of Lies. In effect, FTX or Terra (LUNA) are still in process. To simplify and avoid any legal pitfalls, the teams of chain analysis did not include these data in the calculation of illegal activities. This is even more so whitening of these benefits is sometimes in the chain sometimes not.

Share of Illegal Activity to Total Cryptocurrency Volume from 2017 to 2022 – Source: Chainalysis

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OFAC sanctions make a big splash in 2022

First observation visible in the table above is an increase in the percentage of illegal activities. After two years of decline, the percentage is increasing again, going from 0.12% IN 2021 IN 0.24% in 2022. This represents 20.1 billion dollars distributed in different sectors of illegal activity. By sector, we mean different areas that use crypto, such as AVERAGE Where conclusiveness to perform works punishable. Trafficking in human beings, ransom demands, protocol hackingfraud, black market, terrorism and even sanctioned addresses are all different sectors.

Share of various illegal activities in the total annual volume – source: Chainalysis

Indeed, this year, the American services which manage OFAC foreign assets control office – have decided to seriously extend this listing blacklist of addresses suspected of illegal activities. They can be terrorists, but also OPPOSERS or enemies of the administration US and is allied. The Iranians or the North Koreans have been worried for a long time. But this yearThese are Russians which mainly drove new entries to the list. And each product added the address de facto amount of illegal activity.

Crypto theft is a safe bet when it comes to illegal activity

Increase or decrease from year to year depending on the sector of illegal activity expressed in percentage – source: Chainalysis

Finally, the only one sector which has actually increased, apart from that due to sanctions which are not marked in the chart, is that the flight. FLY SIMPLE of crypto by cheating or hacking the protocol which increases with 7% from one year to another. In his house chain analysisthis decline in other sectors is mainly explained by general decline in the market. The less volume, the harder it is to find victims.

In conclusion, it can be noted that during the last years, volumes related to these illegal activities do not stop to decrease. We are one year less than that 1%. But another remark relevant drew our attention to this case. The teams of chain analysis indeed notice that cryptocurrency it is the only sector where such data is technically available possible and politically Acceptable. We would really like to know the same volume in finance traditional ! But while you wait for that day, be careful anyway your cryptos and your NFTs because a disaster soon happened.

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