• About Us
  • Advertising
  • Digital Magazine
  • Supplements
  • Media Pack
  • Privacy Policy
  • Contact us
CXO Insight Middle East
  • News
  • Opinion
  • Business
    • Industries
      • Transport
      • Retail
      • Government
      • Real Estate
      • Education
      • Energy
      • Banking and Finance
    • Channel
  • Future
    • Tech
    • Gadgets
    • Science
    • Space
    • Sustainability
  • Events
    • Channel Insights Summit 2025
    • Insight Innovation Summit
    • CXO50 Oman
    • CXO50
    • ICT Awards
      • Dubai 2025
      • Saudi Arabia
    • Cyber Strategists Summit
    • Cloud Connect 2025
    • Channel Awards 2024
    • All events
  • GITEX
  • Digital Magazine
No Result
View All Result
CXO Insight Middle East
  • News
  • Opinion
  • Business
    • Industries
      • Transport
      • Retail
      • Government
      • Real Estate
      • Education
      • Energy
      • Banking and Finance
    • Channel
  • Future
    • Tech
    • Gadgets
    • Science
    • Space
    • Sustainability
  • Events
    • Channel Insights Summit 2025
    • Insight Innovation Summit
    • CXO50 Oman
    • CXO50
    • ICT Awards
      • Dubai 2025
      • Saudi Arabia
    • Cyber Strategists Summit
    • Cloud Connect 2025
    • Channel Awards 2024
    • All events
  • GITEX
  • Digital Magazine
No Result
View All Result
CXO Insight Middle East
No Result
View All Result

Illicit Cryptocurrency Volume increased to All-Time High in 2022

by CXO Staff
January 16, 2023
in News

Surge in Activities Associated with Sanctioned Entities Drove Illicit Cryptocurrency Volume to All-Time High in 2022

Illicit Cryptocurrency Volume increased to All-Time High in 2022

Despite the downturn in the cryptocurrency market, illicit transaction volume rose for the second consecutive year, hitting an all-time high of at least US$20.1 billion in 2022. This is according to the latest annual Crypto Crime Report by blockchain data platform Chainalysis, which found that sanction-related transaction volume, largely associated with crypto exchanges in Russia, surged over 10 million percent from 2021 to 2022, accounting for the largest part (44%) of all illicit transaction volume last year.

The crypto community can however find plenty of positives to take away from this latest report. Unlike in 2021, this year, transactions associated with traditional forms of crypto crime — scams, terrorism financing, and fraud shops — all showed year-on-year decreases. Only transaction volumes related to stolen funds rose 7% year on year, and even this represented a significantly decelerated rate of growth compared to the previous year when the corresponding increase was almost 6x.

Overall, the share of all cryptocurrency activity associated with illicit activity remains encouragingly small — just 0.24% of the total cryptocurrency transaction volume.

“The events of 2022 have made clear that although blockchains are inherently transparent, the industry has room for improvement in this respect. There are opportunities to connect off-chain data on liabilities with on-chain data to provide better visibility, and the transparency of all transactions on-chain in DeFi is a standard that all crypto services should strive to achieve. As more and more value is transferred to the blockchain, all potential risks will become transparent, and we will have more complete visibility,” said Kim Grauer, Director of Research, Chainalysis.

Tags: ChainalysisCrypto Crime Reportfeatured2Kim Grauer
ShareTweet

Related Posts

NVIDIA RTX 5090 and 5080 out now and NVIDIA app updates released
Future

DLSS 4 with multi frame generation is multiplying performance in Dragonkin

This week, DLSS 4 with Multi Frame Generation is multiplying performance in Dragonkin: The Banished, Marvel's Spider-Man 2, Mecha BREAK,...

June 11, 2025
IBM sets path to scalable Quantum Computing
Future

IBM sets path to scalable Quantum Computing

IBM unveiled its path to build the world’s first large-scale, fault-tolerant quantum computer, setting the stage for practical and scalable...

June 11, 2025

Discussion about this post

Latest Issue

NVIDIA RTX 5090 and 5080 out now and NVIDIA app updates released

DLSS 4 with multi frame generation is multiplying performance in Dragonkin

June 11, 2025
Axis introduces next-gen AI-powered dome cameras

Axis introduces next-gen AI-powered dome cameras

June 11, 2025
Channel Vision Strategy: Empowering cyber resilience

What most businesses get wrong about data security

June 11, 2025

The most trusted source of strategic intelligence for IT decision makers in the Middle East.

About

  • About Us
  • Advertising
  • Digital Magazine
  • Supplements
  • Media Pack
  • Contact Us

Policies

  • Privacy Policy

© 2024 – CXO Insight Middle East. All Rights Reserved.

Facebook-f X-twitter Linkedin
Separated they live in Bookmarksgrove right at the coast of the Semantics, a large language ocean. A small river named Duden.

About

  • About Us
  • Site Map
  • Contact Us
  • Career

Policies

  • Help Center
  • Privacy Policy
  • Cookie Setting
  • Term Of Use

Join Our Newsletter

© 2024 – CXO Insight Middle East. All Rights Reserved.

Facebook-f Twitter Youtube Instagram

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Join our mailing list
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
No Result
View All Result
  • News
  • Opinions
  • Business
    • Industries
      • Transport
      • Retail
      • Government
      • Real Estate
      • Education
      • Energy
      • Banking and Finance
  • Channel
  • Future
    • Tech
    • Gadgets
    • Science
    • Space
    • Sustainability
  • Events
    • Channel Insights Summit 2025
    • Insight Innovation Summit
    • CX50 Oman
    • CXO50
    • ICT Awards
      • Dubai
      • Saudi Arabia
    • Cyber Strategists Summit
    • Cloud Connect 2025
    • Channel Awards 2023
    • All events
  • Videos
  • GITEX GLOBAL
  • Digital Magazine

© 2024 - CXO Insight Middle East. All Rights Reserved.