Shulou(Shulou.com)11/24 Report--

Beijing, January 13 (Xinhua) the illegal use of cryptocurrencies in 2022 reached a record $20.1 billion (135.4 billion yuan), according to data from blockchain analysis firm Chainalysis on Thursday.

Chainalysis said its estimate of $20.1 billion included only activities recorded on the blockchain and did not include "off-chain" crimes such as encryption companies fraudulent accounting. In addition, this figure does not include the proceeds of non-encryption-related crimes, such as the use of cryptocurrencies as a means of payment for drug trafficking. It is reported that Chainalysis said that despite the decline in overall cryptocurrency transactions, the value of cryptocurrency transactions related to illegal activities rose for the second year in a row.

The United States also imposed sanctions last year on cryptocurrency hybrid services Blender and Tornado Cash, which are said to have been used by hackers to clean billions of dollars worth of proceeds from cybercrime, Reuters reported.

It is understood that the number of stolen encrypted funds increased by 7 per cent last year, but the number of other illegal encryption transactions, including those related to fraud, extortion software, terrorist financing and human trafficking, has declined.

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