The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Money Laundering Accounts for Less Than 1% of All Crypto Transactions Last Year: Chainalysis Report

by Daily Hodl Staff
January 31, 2022
in Scams, Schemes and Hacks

New data from Chainalysis reveals that while money laundering schemes involving digital assets rose last year, they still comprise a tiny fraction of overall crypto transactions.

In a new report, the market analytics firm finds that while 5% of the global gross domestic product is laundered every year in fiat currency, just 0.05% of all crypto transactions involve money laundering.

“Overall, cybercriminals have laundered over $33 billion worth of cryptocurrency since 2017, with most of the total over time moving to centralized exchanges.

For comparison, the UN Office of Drugs and Crime estimates that between $800 billion and $2 trillion of fiat currency is laundered each year – as much as 5% of global GDP. For comparison, money laundering accounted for just 0.05% of all cryptocurrency transaction volume in 2021.”

Chainalysis also finds that money laundering through crypto assets is heavily concentrated, with most of the funds moving from illicit wallets to a “surprisingly” small number of entities.

“A group of just 583 deposit addresses received 54% of all funds sent from illicit addresses in 2021. Each of those 583 addresses received at least $1 million from illicit addresses, and in total, they received just under $2.5 billion worth of cryptocurrency.

An even smaller group of 45 addresses received 24% of all funds sent from illicit addresses for a total of just under $1.1 billion. One deposit address received just over $200 million, all from wallets associated with the Finiko Ponzi scheme.”

The market intelligence firm says that the sector of the crypto market most affected by money laundering is decentralized finance (DeFi), which saw a 1,964% year-over-year increase in the total value of funds received from illicit addresses.

Chainalysis also finds that the overall amount of money laundered through cryptocurrencies in 2021 was $8.6 billion, a 30% increase from 2020.

You can read the full Chainalysis report here.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Brazhyk

Submit a Press Release

Industry Announcements

  • Blockchain Pioneer Acquires International Fashion House Blk DNM
    June 7, 2023
  • WOW EARN Launches Its Crypto Wallet on iOS and Google Play
    June 7, 2023
  • BinaryX and AiGC Labs Developing First AI-Powered Virtual Reality Game on the Metaverse
    June 7, 2023
  • The Importance of Crypto Payments in 2023
    June 7, 2023
  • Proof of Talk 2023 – Two Days To Restore Trust in Web 3.0 and Design the Future of the Industry
    June 7, 2023
  • OKX Partners With Komainu, Enabling 24/7 Secure Trading of Segregated Assets Under Custody for Institutions
    June 6, 2023
  • Mooky.io – $750,000 Raised Within a Matter of Days
    June 5, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$26,508.10
$26,508.10
1.28%
Ethereum
$1,844.86
$1,844.86
1.8%
Cardano
$0.328703
$0.328703
4%
XRP
$0.520784
$0.520784
1.69%
Dogecoin
$0.068084
$0.068084
2.14%

Spotlight

  • Popular Crypto Analyst Issues Major Bitcoin Alert, Says BTC Ripe for a ‘Flush Down’ – Here’s Why
    June 1, 2023
  • Is XRP About To Rally? Crypto Analytics Firm Santiment Says One Metric Is Flashing a Historically Bullish Signal
    June 1, 2023
  • Top Trader Says Ethereum on Cusp of Breakout Against Bitcoin, Predicts One Surging Altcoin Has More Fuel in Tank
    June 1, 2023
  • Brian Armstrong Issues Warning on China, Says US Putting National Security at Risk With Anti-Crypto Climate
    June 1, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl