Crypto money laundering skyrockets via decentralised finance route

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Crypto money laundering skyrockets via decentralised finance route

New research shows that decentralised finance (DeFi) protocols are becoming an increasingly significant route for money launderers, according to international law form Pinsent Masons in a briefing note on 4 February. Cybercriminals laundered $8.6bn worth of cryptocurrency in 2021, a figure that represents a 30% increase on the previous year. Centralised exchanges are still the favourite conduit for sending and receiving illicit cryptocurrency, receiving 47% of funds sent by addresses linke...