Wu Shuo learned that, according to the latest research report released by blockchain data analytics firm Chainalysis, Brazil received approximately $318 billion worth of cryptocurrency in the past year, accounting for one-third of the total value in Latin America (LatAm). However, this growth has also attracted illegal inflows. The research shows that: money laundering by cartel groups is currently the largest identified category of illegal inflows; more and more Russians evading sanctions are increasingly using Brazil’s local exchange infrastructure; and, in addition, about 80% of the volume of illegal transactions goes to only 5 deposit addresses.