Over five years, about $100 billion of “dirty” cryptocurrency was sent to exchanges, according to a report by Chainalysis. However, company analysts attribute approximately a third of this volume to sanctioned crypto services, such as the Russian exchange Garantex.

The remaining volume is primarily related to darknet markets, scams, ransomware and malware.

Stablecoins make up the majority of the total volume of “dubious” transfers relative to the crypto market as a whole. Most of the “dirty” cryptocurrencies end up on the five largest crypto exchanges, but criminals also use DeFi applications, gambling sites, cryptomixers and gateway bridges to launder money.