Crypto crime hits record  $20 bln  in 2022

Illegal use of crypto currencies reached a record high of $20.1 billion in 2020, 

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Investors were left with large losses and regulators stepped up calls for more consumer protection.

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overall crypto transaction volumes fell, the value of crypto transactions related to illicit activity rose

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Transactions associated with sanctioned entities increased more than 100,000-fold in 2022

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Funds received by the Russian exchange Garantex, which was sanctioned by the U.S. Treasury Department in April

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most of that activity is "likely Russian users using a Russian exchange

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The United States also imposed sanctions cryptocurrency mixing services Blender and Tornado Cash