Chainalysis report detailed how cyber criminals laundered their crypto funds in 2021 compared to the previous year, with DeFi protocols seeing the biggest increase in use.
A new Chainalysis report has revealed that $8.6 billion in value was laundered through cryptocurrency in 2021. It marks a 25% increase from 2020, but still remains well below the high watermark hit in 2019. That year $10.9 billion in value was laundered via cryptocurrency. Since 2017, Chainalysis estimates that a total of $33.4 billion in crypto has been laundered.Chainalysis points out the $33.4 billion in crypto laundered since 2017 pales in comparison to the estimated $2 trillion in fiat is laundered yearly from offline crimes such as drug trafficking. However, a reliable assessment of the amount of fiat laundered is more difficult to determine than crypto due to the use of untraceable cash in offline crimes. The report states:“The biggest differenc
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