Crypto Money Laundering Plummets By 29% In Latest Chainalysis Findings
Summary
Summary: - Chainalysis report shows a decline in crypto money laundering, with $22.2B sent to services in 2023, down from $31.5B in 2022. - Centralized exchanges remain top destinations for illicit funds, but a growing share is going to decentralized finance (DeFi) protocols. - Notable changes in money laundering practices include increased use of cross-chain bridges by cybercriminals and North Korean hackers adapting to law enforcement actions. - Concerns persist over concentration of money laundering at fiat off-ramps and the evolving tactics of sophisticated crypto criminals. - The report underscores the importance of understanding interconnectedness in combating crypto crime.
