Crypto Crime Hits Record $20 Billion in 2022: Chainalysis Report

Illicit use of cryptocurrencies hit a record $20.1 billion (nearly Rs. 1,63,217 crore) last year as transactions involving companies targeted by US sanctions skyrocketed, data from blockchain analytics firm Chainalysis showed on Thursday. The cryptocurrency market floundered in 2022, as risk appetite diminished and various crypto firms collapsed.