Crypto crime hit record $14 bn in 2021, rose 80% from last year

Newcomers have been drawn to the promise of quick gains touted by crypto backers, as well as hopes that bitcoin offers a hedge against soaring inflation

Crime involving cryptocurrencies hit an all-time high of $14 billion last year, blockchain researcher Chainalysis said on Thursday, a record that comes as regulators call for more powers over the fast-growing sector.
 
Crypto received by digital wallet addresses linked to illicit activity including scams, darknet markets and ransomware jumped 80% from a year earlier, Chainalysis said in a report.
 
The activity represented just 0.15% of total crypto transaction volumes, its lowest ever.
 
Overall volumes soared to $15.8 trillion in 2021, up over five-fold from a year earlier, U.S.-based Chainalysis said.
 
Digital assets, from bitcoin to non-fungible