Chainalysis Report: In 2023, illegal addresses received over $24 billion in cryptocurrency

ChainCatcher news, according to CoinDesk, Chainalysis's annual crypto crime trend report estimates that in 2023, illegal addresses received over $24 billion in cryptocurrency, accounting for 0.34% of all transaction volume. This figure represents a nearly 40% decrease from 2022, but it is still provisional data. The current total stands at $24.2 billion, and this number may increase as more addresses are confirmed as illegal. The total for 2022 is now $39.6 billion, but only $20.6 billion was confirmed when Chainalysis reported last year.

The report also noted that transactions involving sanctioned entities accounted for 61.5% of total transaction volume in 2023. Stablecoins continued to dominate the majority of illegal transaction volume in 2023, whereas Bitcoin was the cryptocurrency of choice for criminals from 2018 to 2021. Meanwhile, crypto scams and hacking attacks decreased by 29.2% and 54.3% respectively last year; on the other hand, ransomware and dark web activities saw an increase.