Criminal use of crypto spikes after years of steady decline, TRM report says
A recent report by TRM indicates a significant increase in the criminal use of cryptocurrency, reversing a trend of steady decline observed in previous years. The report highlights that illicit activities, including scams and ransomware attacks, have surged, with criminals increasingly adopting crypto for transactions. In 2022, the total value of illicit crypto transactions reached approximately $20.6 billion, a stark rise from $14 billion in 2021. The findings suggest that regulatory efforts and law enforcement actions may not have fully deterred criminal behavior in the crypto space.
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