Chainalysis: Cryptocurrency money laundering fell 30% year-on-year to $22.2 billion in 2023
Chainalysis stated in its annual report on cryptocurrency money laundering that illegal cryptocurrency activities fell sharply last year, partly due to a decrease in cryptocurrency trading volume, and also because hacker groups such as Lazarus Group are developing methods to evade detection.
Chainalysis stated that the amount of money laundered through cryptocurrency in 2023 was $22.2 billion, lower than the previous year's $31.5 billion. This decrease is greater than the decrease in trading volume, indicating that factors other than the overall market downturn may have contributed to the reduction in illegal activity. Data shows that only about 1% of all money laundering activities are conducted through cryptocurrency. Deloitte reportedly wrote in a report in June 2023 that all illegal money laundering funds amounted to about $2 trillion annually. (CoinDesk)
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