Experts take on Fin Crime – Web3 by RegTech Associates

While Web3 and digital assets have the potential to greatly benefit society, cryptocurrencies and decentralised finance (DeFi) protocols have become a central tool in the arsenal of cybercriminals. Statistics show cybercriminals laundered $8.6bn worth of cryptocurrency in 2021, a 30% increase from the year prior, and Chainalysis have observed a near 2,000% increase in the total value of cryptocurrency laundered through DeFi protocols