A new report by Chainalysis shows that crypto crime hit a new record level in 2021 at $14 billion, up from just $7.8 billion in 2020 as DeFI offered new avenues for criminals.
Despite this growth, crime accounted for the smallest percentage of crypto transactions ever at 0.15 percent as the overall volume grew by 567 percent to hit $16 trillion.
Crypto crime shot to a new high in 2021, a new report by New York blockchain analytics firm Chainalysis has revealed. It shows that wallets linked to criminals received $14 billion in 2021, a 79 percent rise in volume from the $7.8 billion they received in 2020 as DeFi offered these criminals a prime avenue to defraud victims. However, even with this rise, crime accounted for the smallest percentage ever at just 0.15 percent of all crypto activity.
The report, titled “Crypto Crime Trends for 2022,” looked at what was driving crime in the crypto industry in 2021 and which sectors saw the biggest rise in illicit activity. After a dip in cr
