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Chainalysis analysis notes Money laundering using cryptocurrency has increased

According to the newest Chainalysis research, money laundering activities in the crypto sector have increased significantly.

Since cryptocurrency has become more mainstream, it facing variety of problems. This demonstrates that some traders’ fears about entering the market are justified. Despite broad sanctions against these criminals, they consistently find a new way to recreate themselves. This is underlined in the most recent Chainalysis research, which shows an increase in money laundering in the crypto space.

Money laundering has increased dramatically in the last two years, according to the data analysis organization.

According to the Chainalysis analysis, these bad actors could be responsible for $8.6 billion in illicit cash laundering through the crypto sector. Although the data analysis body noted a significant gain from two years ago, the statistic still shows a significant difference from 2019. According to Chainalysis’s 2019 study, around $10.9 million in cryptocurrency is under laundering in the sector. However, the accounting firm also stated that the totals have surpassed $30 billion during a five-year period.

Digital assets were more valuable to criminals than real cash in terms of money laundering.

The Chainalysis analysis also compared and contrasted physical cash trade and online transactions.

According to the research, blockchain is transparent and has assisted officials in tracking these assets. They can see which wallets contain which illicitly obtain digital asset and receive notifications when it is moving to another wallet.

According to Chainalysis, criminals gained more value through cryptocurrency laundering than they did from conventional cash. The Chainalysis analysis also emphasizes the decline in money laundering through centralized exchanges, which accounts for only 47% of the total.

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