empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

27.01.202212:18 Forex Analysis & Reviews: Chainalysis: crypto money laundering rises 30% in 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 27.01.2022 analysis

Cybercriminals laundered $8.6 billion worth of cryptocurrency in 2021, Chainalysis reported. That represents a 30% increase in money laundering activity from 2020.

Cybercriminals have laundered over $33 billion worth of cryptocurrency since 2017, Chainalysis estimated. The biggest part of these funds has moved to centralized exchanges over time.

Such an increase is unsurprising given the significant growth of both legitimate and illicit cryptocurrency activity in 2021, Chainalysis stated.

Money laundering refers to the process of concealing the origin of illegally obtained money by transferring it to legal businesses.

According to Chainalysis, around 17% of $8.6 billion laundered went to decentralized finance applications instead of centralized exchanges, up from 2% in the previous year.

Mining pools, high-risk exchanges, and mixers also saw substantial increases in value received from illicit addresses as well, the Chainalysis report says. Mixers combine potentially identifiable or tainted cryptocurrency funds with others, so as to conceal the trail to the fund's original source.

According to Chainalysis, addresses associated with theft sent just under half of their stolen funds to DeFi platforms — over $750 million worth of cryptocurrency in total.

Chainalysis explained that $8.6 billion laundered account for funds derived from cryptocurrency crime.

Irina Yanina
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off