Category: crypto crime

Illicit Crypto Addresses Received $14 Billion in 2021; Tiny Transaction Volume Linked to Crime

Chainalysis’s recent survey says, “In 2021, the net value of cryptocurrency authorized by illicit addresses escalated a new all-time high of $14 billion.” Compared to 2021, this record high is nearly twice the $7.8 billion. It constitutes just 0.15% of the 2021 cryptocurrency transaction volume. Funds Pushed to Illicit Marks Fall Cryptocurrency-related crimes’ utility recorded […]

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AtlasVPN Report: From Q1-Q3 2021, US Citizens Lost $956 million to investment-related Crypto Scams

Amid the increasing mainstream crypto adoption, crypto-related frauds are also shooting through the roof. According to a recently published report by atlasVPN, Americans have lost upto $956 million, to investment-related crypto crimes this year from Q1 to Q3. This amounts to an unbelievable 277.8 percent hike in investment-related crypto frauds in 2021 as compared to last […]

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Crypto Crime Falls in China, Surges in Hong Kong, Reports Reveal

Crypto Crime Falls in China, Surges in Hong Kong, Reports Reveal

China’s cryptocurrency transactions related to criminal activities have decreased significantly over the past couple of years, a new report suggests. At the same time, its special administrative region of Hong Kong is seeing a spike in crypto-related crime this year, with authorities attributing the rise to the popularity of crypto investments. Chinese Crime-Related Crypto Transactions […]

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Instagram Influencer Charged for Allegedly Stealing Millions of Dollars in Bitcoin From Followers

A popular Instagram personality has been charged in the U.S., accused of stealing bitcoins worth millions of dollars from his followers. He allegedly convinced the “victims to sell him their bitcoin at attractive, but inflated, values” but he never wired them the money for the coins sent to him. Instagram Influencer’s Bitcoin Scam The U.S. […]

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Mirror Trading International Named Biggest Crypto Scam of the Year After Raking in $589 Million

Blockchain analysis firm, Chainalysis’ latest crime report has named Mirror Trading International (MTI) as the biggest cryptocurrency scam of 2020. Chainalysis arrived at this conclusion after an investigation found that MTI had taken in $589 million from more than 471,000 deposits. According to the report, MTI’s haul is significantly higher than that of Forsage and […]

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Crypto Crime Fell Sharply to Only 0.3% of All Cryptocurrency Activity in 2020

Crypto Crime Fell Sharply to Only 0.3% of All Cryptocurrency Activity in 2020

A study by blockchain analytics firm Chainalysis finds that cryptocurrency-related crime has fallen significantly. The criminal share of all crypto activity fell to just 0.34% in 2020. This contradicts recent statements by U.S. Treasury Secretary nominee Janet Yellen and ECB President Christine Lagarde that cryptocurrencies are mostly used for illicit financing. Crypto Crime Plummeted in […]

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