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Cryptocurrency transaction crimes reach ‘all-time high’ to $20.1 billion


Crime related to cryptocurrency transaction volumes has increased for the second time, "hitting an all-time high of $20.1 billion" in 2022 compared to $14 billion in 2021, according to a new Chainalysis report.


The figure, however, excludes non-crypto native crime, which occurs when an illegal event occurs and payment is made in cryptocurrency. This comes as new crypto scams emerge, with sanctioned entities accounting for 44 percent of illegal activity in the previous year. According to the report, funds received by sanctioned entity Garantex account for a large portion of 2022's illicit transaction activity.

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