Illicit Crypto Transactions Hit All-Time Highs And Lows In 2021

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By Elise Hansen (January 6, 2022, 7:39 PM EST) — Illicit cryptocurrency transactions topped $14 billion last year, an all-time high figure, but the amount of illegal activity compared to legitimate transactions hit an all-time low as global adoption skyrocketed, blockchain analysis company Chainalysis said Thursday.

In a preview of an upcoming report, Chainalysis found that illicit addresses received $14 billion over the course of the year — nearly double the $7.8 billion received in 2020. The majority was lost to scams, with another sizable portion attributed to stolen funds, the analysis said. Other, less prevalent illicit uses included darknet markets and ransomware.

But unsavory activity made up only about 0.15%…

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