Crypto Money Laundering: Four Exchange Deposit Addresses Received Over $1 Billion in Illicit Funds in 2022
Contents
We’ve written in the past about how money laundering activity is highly concentrated to just a few services, and within those services, concentrated even further to a small number of deposit addresses. That remained true in 2022, though as we’ll explore, with a few new wrinkles. In addition, we’ll examine the rise of underground money laundering services that exist separately from the crypto businesses most are familiar with, and also analyze funds still held by crypto criminals on the blockchain.
In this report, we cover:
- 2022 crypto money laundering activity summarized
- Overall mixer usage falls in 2022, but illicit usage hits all-time high
- Money laundering concentration at fiat off-ramps
- Underground money laundering services are a growing concern
- Criminal balances dropped in 2022
2022 crypto money laundering activity summarized
Money laundering in cryptocurrency typically involves two types of on-chain entities and services:
- Intermediary services and wallets: These can include personal wallets (also known as …
In this report, we cover:
- 2022 crypto money laundering activity summarized
- Overall mixer usage falls in 2022, but illicit usage hits all-time high
- Money laundering concentration at fiat off-ramps
- Underground money laundering services are a growing concern
- Criminal balances dropped in 2022
2022 crypto money laundering activity summarized
Money laundering in cryptocurrency typically involves two types of on-chain entities and services:
- Intermediary services and wallets: These can include personal wallets (also known as …