Chainalysis: Nearly 100 billion dollars have been transferred from known illegal wallets to exchange services since 2019

A report from Chainalysis indicates that money launderers use cryptocurrencies to conceal the source and flow of illicit funds, employing methods such as crypto mixers, cross-chain bridges, and wallet "conversions" to hide fund movements. Since 2019, nearly $100 billion has been transferred from known illegal wallets to conversion services, with a peak of $30 billion in 2022. Despite this, Chainalysis points out that due to the transparency of Blockchain technology, cryptocurrency laundering activities can still be traced and analyzed. As global acceptance of cryptocurrencies increases, it is expected that such laundering activities will become more prevalent.