![DeFi Has a Risk Problem and It’s Time to Solve Tyler Spalding, CEO / Co-Founder, Flexa, 2Chainz and Zack Seward, Deputy Editor-in-Chief, CoinDesk](https://btcusa.com/wp-content/uploads/2023/12/DeFi-Has-a-Risk-Problem-and-Its-Time-to-Solve-678x381.jpg)
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Another caveat to the research is the prevalence of transactions with sanctioned entities, which accounted for a combined $14.9 billion (61.5%) of volume in 2023. Some of this $14.9 billion includes transactions from normal crypto users who happen to live in sanctioned jurisdictions. After all, not all of the Russia-based crypto exchange Garantex, which was sanctioned by the relevant bodies in both the U.S. and U.K. are using crypto for money laundering and ransomware.
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