Darknet Vendors Shift to DeFi for Crypto Laundering
In 2024, decentralized finance (DeFi) played an increasing role in storing, transferring, and obfuscating illicit crypto proceeds. Tighter regulations on centralized exchanges, with stricter KYC and AML measures, have made it harder for illicit actors to cash out. Law enforcement has also stepped up efforts, seizing assets and disrupting key money laundering networks. As a result, darknet market vendors are increasingly shifting their financial activity toward decentralized platforms. Last year, darknet market (DNM) vendors sent a significantly higher portion of their funds to DeFi than historically.
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