No one will be surprised to learn that criminals still favor Bitcoin. A new report by Chainalysis shows 2019 was a good year for the culprits, but a bad one for the rest of the world.
Over the years, there have been many rumors regarding Bitcoin and online crime.
In the report, Chainalysis notes severe growth compared to 2018.
A bit unusual,a s 2018 saw a decline in illicit cryptocurrency transactions compared to the year prior.
Last year, the figures spiked to well above $11 billion.
This figure may be a lot lower than most had assumed, however.
With this rise in illicit crypto transactions, a very problematic situation ensues.
That said, it is crucial to put everything into perspective.
These illicit streams represent 1.1% of all yearly global cryptocurrency activity.
That doesn’t mean the problem should be ignored, but it needs to be put in the right perspective at all times.
Surprisingly, the majority of crimes involving primarily pertain to terrorism financing and darknet markets.
Combined with stolen funds, they make up for the vast majority of money streams.
Scams, sanction evasion, ransomware, and child abuse material aren’t even visible on these charts at this time.
The report contains a lot of other useful information that is certainly worth checking out.
The cryptocurrency market is abuzz with the meteoric rise of $MANEKI, a token that has…
In a strategic move aimed at consolidating and enhancing its network capabilities, BNBChain is gearing…
BlockDAG's ROI Potential Soars From 20,000x To 30,000x After Moon-Shot Keynote As Rivalry with Dogwifhat…
Since 2021, crypto investors, especially those who missed out on Dogecoin (DOGE) and Shiba Inu…
BlockDAG Smashes $20 Million Presale Amid Moon-shot Keynote as Raboo (RABT) & Bitcoin SV Prices…
Crypto enthusiasts are assessing the best crypto to invest in. With the market showing signs…