Every year, we publish our estimates of illicit cryptocurrency activity to demonstrate the power of blockchains’ transparency – these kinds of estimates aren’t possible in traditional finance – and to teach investigators and compliance professionals about the latest trends in cryptocurrency-related crime that they need to know about. What could those estimates look like in a year like 2022? Last year was one of the most tumultuous in cryptocurrency history, with several large firms imploding, including Celsius, Three Arrows Capital, FTX, and others — some amid allegations of fraud.