According to the analytical company Chainalysis, last year the share of cryptocurrency transactions related to illegal activities dropped markedly – from 2.1% in 2019 to 0.34% in 2020.
One of the reasons for this decline, analysts said, is a noticeable increase in the volume of transactions in 2020. However, if in 2019 criminals performed transactions with cryptocurrencies worth $ 21.1 billion, then in 2020 the volume of such transactions amounted to only $ 10 billion.
Analysts noted that the data on the volume of illegal transactions in 2020 could grow if new pyramids and fraudulent firms are discovered. Thus, in a report published in 2020, the volume of such transactions was noticeably lower – for example, transactions related to the PlusToken pyramid were identified later.
Interestingly, fraudulent cryptocurrency transactions remain the largest in terms of volume, although they have declined since 2019. Also in 2020, the number of transactions on the darknet markets increased. The most impressive growth was seen in transactions associated with operators of ransomware viruses.
As a reminder, the previously popular cryptocurrency derivatives exchange BitMEX has implemented Chainalysis tools to track illegal transactions.
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