$20 billion in illegal cryptocurrency activity by 2022

2022 is another good year for scammers – files chain analysis eagerly awaited by professionals and observers crypto. DeFi, NFT, trading platforms, their services cover all areas of the sector and regularly offer industry related reportse. Today we will look illegal activities into cryptocurrency and try to understand the numbers provided by this big data expert. Visit the company’s highly prestigious 5th Avenue offices to learn about modern stalkers.

A preamble to the figures and calculation methods of chain analysis

Before giving the raw numbers, I’d like to give Chainalysis a few data their Context. Because in the small numbers game, we can make the same graphs say very different things. Figures given for first precision 2022 they are subject to change. Indeed, like the new cheats discoveries in 2023they can change the data of 2022.

Then you need to take into account that only illegal activities say crypto natives are considered If you buy drugs with BTC, it technically doesn’t count. Last but not least, what to do with their activities platforms under the charge of fraud. In effect, FTX or Terra (LUNA) is still in progress. Teams to simplify and avoid any legal pitfalls chain analysis did not include this information in the calculation of illegal activities. This is more so bleach Sometimes from these gains on the chain sometimes not.

Percentage of Illegal Activity vs. Total Cryptocurrency Volume from 2017 to 2022 – Source: Chainalysis

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OFAC sanctions will make a big splash in 2022

First observation Visible in the table above is the increase in the share of illegal activities. After two years of decline, interest rates are rising again 0.12% in 2021 hour 0.24% in 2022. It represents 20.1 billion dollars were distributed among different areas of illegal activity. By sector, we mean different areas that use cryptocurrency AVERAGE Where ending to make moves condemning. Human trafficking, ransom demand, protocol hackfraud, black market, terrorism and even sanctioned addresses are all different sectors.

Share of various illegal activities in total annual volume – source: Chain analysis

Indeed, this year, American services that manage OFAC foreign asset control office – we decided to seriously extend it list blacklist of addresses suspected of illegal activity. Could be a terrorist as well opponents or enemies of the administration american and his allies. The Iranians or the North Koreans have been worried for a long time. But this year Russians it mostly boosted the new entries on the list. And product added to any address de facto amount of illegal activity.

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

Year-on-year increase or decrease by sector of illegal activity expressed as a percentage – source: Chain Analysis

Finally, the only one sector Due to the sanctions that have actually increased, which are additionally not mentioned in the chart flight. Flight simple increase cryptocurrency by trick or protocol hack 7% from one year to another. in the house of chain analysis, this decrease in other sectors is mainly explained by the general decrease in the market. The lower the volume, the harder it is for riffraff to find victims.

Finally, it can be noted that over the past few years volumes related to these illegal activities don’t stop reduce. We are still one year away 1%. But another note relevant drew our attention to this case. teams of chain analysis really note that cryptocurrency is the only sector where such information is technical possible and political is acceptable. We would very much like it to be the same in the financial field traditional ! But be careful while you wait for that day to your crypto and NFTs because a quick accident happened.

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