Illicit Funds Concentrate at Centralized Exchanges

According to a report by blockchain analytics firm Chainalysis, over 50% of illicit cryptocurrency funds end up at centralized crypto exchanges. The report highlights the significant concentration of money laundering activity at a small number of exchange deposit addresses, with just 542 addresses receiving over $1 million in illicit funds in 2022. This underscores the importance of effective compliance and anti-money laundering measures within the crypto ecosystem.Read more on Unchained