Illegal crypto addresses received $ 14 billion in 2021, only 0.15% of the transaction volume in connection with crime-regulation

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According to the latest data from Chainalysis, the total value of the cryptocurrency, which was received by illegal addresses, grew to a new all-time high of $ 14 billion in 2021. Although the new all-time high is almost twice the $ 7.8 billion recorded in 2020, it is only 0.15% of the transaction volume of cryptocurrency 2021.

percentage of the funds sent to illegal addresses drops

The value of the crime recorded in 2021 in connection with cryptocurrencies rose to a new all-time high of $ 14 billion, a number that is almost twice as high as the $ 7.8 billion that received so-called illegal addresses in 2020 is still much lower than the average growth of the funds transferred to illegal addresses Crypto economy, as the latest Chainalysis data showed.

In a recent blog Post refreshment of the transaction volume of the crypto economy in 2021, claims that Blockchain analysis company Chainalysis that the increase in value of the funds that are transferred to illegal addresses is no indication that the room is now dominated by criminals. Rather, this growth could be an indication of how far the crypto economy has expanded in 12 months

For illustration, the blog post indicates the 567%growth of the crypto transaction volume, which the analysis company associated with the increasing acceptance of cryptocurrencies. Chainalysis also offers its point of view of the growing gap between illegal activity volume and legitimate volume:

In fact, the proportion of illegal activities in the transaction volume of cryptocurrencies has never been so low, since the growth of the legitimate use of cryptocurrencies far exceeds the growth of criminal use.

cryptocrimity hinders acceptance

In order to support his position that the proportion of illegal activities in the transaction volume of cryptocurrencies decreases, Chainalysis indicates the data that shows that criminal addresses only made up 0.15% of the volume of 2021. This number is below the 0.62 % in 2020 and 3.37 % in 2019.

Although Chainalysis determines the small proportion of crime crypto transfers in relation to the overall transaction volume, Chainalysis still admits that "the criminal abuse of cryptocurrency creates enormous obstacles for further introduction". The contribution argues that such abuse often "increases the likelihood that limits are imposed by governments and that the worst falls victim to all innocent people around the world."

The blog post also indicated that the law enforcement authorities are becoming increasingly skillful in combating crime on cryptocurrency. It quotes the from several crypto investment fraud of the US Commodity Trading Commission (CFTC) and sanctioning by OFA> from two cryptocurrency platforms based in Russia.

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Terence Zimwara

Terence Zimwara is an award -winning journalist, author and author in Zimbabwe. He wrote in detail about the economic problems of some African countries and how digital currencies Africans can offer an escape route.

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