Illicit crypto flows hit all-time high of $20.1 billion in 2022

Illicit crypto wallets received a $20.1 billion in crypto assets last year, double the prior year’s share as a portion of total crypto volume.

Retail and institutional interest in crypto may have dropped amid a plunge in the asset class last year, but the value of criminal activity in digital assets rose to a record high in 2022,Illicit crypto wallets received $20.1 billion in crypto assets last year, Chainalysis found, double the prior year's share as a portion of total crypto volume.

As a share of total crypto activity, criminal flows made up 0.24% of all crypto transactions in 2022, up from last year's revised reading of 0.12%, the lowest reading as a portion of crypto flows in last six years. Still, the total value of crypto received due to criminal activity has risen each year since 2020.“In spite of it being an all time high for criminal activity, a lot of crimes are down.

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