Crypto crime hits record
– Tech Tudum
Investors were left with large losses and regulators stepped up calls for more consumer protection.
overall crypto transaction volumes fell, the value of crypto transactions related to illicit activity rose
Transactions associated with sanctioned entities increased more than 100,000-fold in 2022
Funds received by the Russian exchange Garantex, which was sanctioned by the U.S. Treasury Department in April
most of that activity is "likely Russian users using a Russian exchange
The United States also imposed sanctions cryptocurrency mixing services Blender and Tornado Cash