Illegal Crypto Transactions Reach A New Peak

More than $20.1  billion worth of illegal transactions were conducted using crypto-currency in 2022, according to the blockchain analysis company Chainalysis. They report a 11.7% per cent increase from the $18bn that was recorded in 2021.

Despite a market downturn, illicit transactions continued to gain ground in the crypto currency sector and the share of crypto currency activity associated with crime has risen consistently since 2019. These numbers are expected to get even higher as more criminal activity is uncovered by security researchers. 

Chainalysis works with law US enforcement agencies and the US government to trace crypto currency transactions and around 44% of the money was linked to sanctioned entities such as the Russian crypto currency exchange Garantex. The US Treasury’s Office of Foreign Assets Control sanctioned that company in April 2022, meaning that any trades conducted on the platform falls under the category of illicit. 

Chainalysis has estimated the of $20.1bn for 2022 is likely to increase as it identifies new addresses and in its current 2023 Crypto Crime Report, they say that transaction volumes fell across all of the other more conventional categories of cryptovcurrency-related crime, with the exception of stolen funds, which increased at a rate of 7% year-on-year.

Chainalysis:     Standard:      Oodaloop:     Infosecurity Magazine:    Punchng:      Arabian Business

You Might Also Read: 

Phishers Use Ukraine Invasion To Solicit Cryptocurrency:

___________________________________________________________________________________________

If you like this website and use the comprehensive 6,500-plus service supplier Directory, you can get unrestricted access, including the exclusive in-depth Directors Report series, by signing up for a Premium Subscription.

  • Individual £5 per month or £50 per year. Sign Up
  • Multi-User, Corporate & Library Accounts Available on Request

Cyber Security Intelligence: Captured Organised & Accessible


 

 

« Cyber Criminals' Earnings Fall As More Ransom Victims Refuse Payment 
Is Your Business Compliant With Data Sovereignty Requirements? »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

CYRIN

CYRIN

CYRIN® Cyber Range. Real Tools, Real Attacks, Real Scenarios. See why leading educational institutions and companies in the U.S. have begun to adopt the CYRIN® system.

Practice Labs

Practice Labs

Practice Labs is an IT competency hub, where live-lab environments give access to real equipment for hands-on practice of essential cybersecurity skills.

WEBINAR: 2024 and Beyond: Top Six Cloud Security Trends

WEBINAR: 2024 and Beyond: Top Six Cloud Security Trends

April 4, 2024 | 11:00 AM PT: Join this webinar to find out about six emerging trends dominating the cloud cybersecurity landscape.

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

Syxsense

Syxsense

Syxsense brings together endpoint management and security for greater efficiency and collaboration between IT management and security teams.

DefCamp

DefCamp

DefCamp is the most important annual conference on Hacking & Information Security in Central Eastern Europe.

FTAPI Software

FTAPI Software

FTAPI SecuTransfer is a software solution for end-to-end encrypted data exchange of large and sensitive data with customers and partners.

CultureAI

CultureAI

CultureAI deliver intelligent cyber security awareness education and tools that build resilient security cultures where employees help defend.

Zuratrust

Zuratrust

Zuratrust provide protection for all kinds of email related cyber attacks.

RCMP National Cybercrime Coordination Unit (NC3)

RCMP National Cybercrime Coordination Unit (NC3)

As set out in the Government of Canada's National Cyber Security Strategy, the RCMP has established the National Cybercrime Coordination Unit (NC3).

Take Five

Take Five

Take Five is a national campaign offering straight-forward, impartial advice that helps prevent email, phone-based and online fraud – particularly where criminals impersonate trusted organisations.

Sabat Group

Sabat Group

Sabat Group provide relationship-driven information security & cyber security recruiting services.

SecureLayer7

SecureLayer7

SecureLayer7 is an international provider of integrated business information security solutions with an innovative approach to IT security.

Ankura Consulting Group

Ankura Consulting Group

Ankura is a global expert services and advisory firm that delivers services and end-to-end solutions in a wide range of areas including cybersecurity and digital transformation.

South West Cyber Resilience Centre (SWCRC)

South West Cyber Resilience Centre (SWCRC)

The South West Cyber Resilience Centre (SWCRC) is led by serving police officers, as part of a not-for-profit partnership with business and academia.

AVEVA

AVEVA

AVEVA has a long history in providing Supervisory Control and Data Acquisition software for meeting complex and evolving automation requirements.

JanBask Training

JanBask Training

JanBask Training is a dynamic, highly professional, global online training provider committed to propelling the next generation of technology learners with a whole new way of training experience.

FluidOne

FluidOne

FluidOne are an award-winning Connected Cloud Solutions provider. We design tailored solutions to help customers and partners digitally transform their IT and communications.

Kivera

Kivera

Kivera enforces your organisation governance and security policies across cloud deployments preventing misconfigurations turning into attack vectors.

Canadian Cyber Threat Exchange (CCTX)

Canadian Cyber Threat Exchange (CCTX)

The CCTX is Canada’s not-for-profit, private-sector cyber threat sharing hub and collaboration centre.

2021.AI

2021.AI

2021.AI serves the growing business need for full oversight and management of applied AI.