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According to the latest data from Chainalysis, the total cryptocurrency value received by illicit 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 that was recorded in 2020, it represents just 0.15% of the 2021 cryptocurrency transaction volume. Percentage of Funds … Read more
Of all funds sent to illicit cryptocurrency addresses from Eastern Europe, scams attract the greatest amount, according to a new report. In the past year alone, crypto addresses based in the region have sent the fraudulent schemes a staggering $815 million in crypto. Eastern Europe Leads by Volume of Illicit Crypto Transactions Among the world’s … Read more
Several thousands of bank accounts belonging to cryptocurrency traders have reportedly been frozen by Chinese police as a result of an extensive crackdown on illicit activities. Frozen accounts are not necessarily involved in wrongdoing and can be unfrozen if the authority finds no evidence of illicit activities. Police Freeze Bank Accounts of Crypto Traders The … Read more
The international financial establishment is known to express concern about the risks of money laundering when the crypto space is mentioned. A string of scandals indicates, however, that traditional banks are not only susceptible to the phenomenon but sometimes complicit, whether knowingly or inadvertently. New chapters have been added to the saga over the last … Read more
