Public Key
The Chainalysis 2025 Crypto Crime Report Preview (Part 1)
Feb 24, 2025
Andrew Fierman, Head of National Security Intelligence at Chainalysis and a sanctions and cryptocurrency expert, discusses the upcoming Chainalysis 2025 Crypto Crime Report. He highlights the alarming rise of crypto services used by illicit actors, focusing on North Korea's financing methods and the role of Russian Instant Exchangers. The conversation unpacks the emerging alliances between nations like Russia, Iran, and China, and emphasizes how blockchain technology is reshaping sanctions enforcement while posing significant national security risks.
29:03
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Emerging networks among Russia, Iran, North Korea, and China are leveraging blockchain technology to facilitate sanctions evasion and economic activities.
- The rise of instant exchange platforms highlights the challenges of tracking illicit crypto transactions linked to sanctioned entities, complicating enforcement efforts.
Deep dives
The Impact of Instant Exchange Platforms
Instant exchange platforms that do not require Know Your Customer (KYC) information have emerged as significant players in the cryptocurrency landscape, particularly in relation to sanctioned jurisdictions. These platforms allow users to swap cryptocurrencies and, notably, facilitate transactions involving sanctioned Russian bank money. This process involves users transferring rubles to the exchange, which subsequently sends the corresponding cryptocurrency to a chosen wallet, obscuring the initial bank's involvement in the transaction. With hundreds of millions of dollars routed through these exchanges each year, they pose challenges for tracking illicit financial activities associated with sanctioned entities.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
