TechFlow news, on February 19, according to CoinDesk, Chainalysis, a blockchain analytics firm, released a new report showing that in 2024, cryptocurrency transactions violating U.S. sanctions from sanctioned countries reached $16 billion, accounting for 39% of global illicit transaction volume. The report highlighted a significant increase in Iran's involvement in sanction-related activities.
Additionally, despite being sanctioned, the mixing service Tornado Cash continued processing hundreds of millions of dollars in transactions monthly throughout 2024, with over 24% of inflows linked to stolen funds. The report also emphasized that the Iranian government maintains tight control over the country's cryptocurrency infrastructure, while many Iranian citizens view cryptocurrencies as an alternative means to circumvent financial restrictions.
