{"id":462468,"date":"2022-06-14T07:01:09","date_gmt":"2022-06-14T04:01:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/illicit-crypto-usage-as-a-percent-of-total-usage-has-fallen-report\/"},"modified":"2022-06-14T07:01:09","modified_gmt":"2022-06-14T04:01:09","slug":"illicit-crypto-usage-as-a-percent-of-total-usage-has-fallen-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/illicit-crypto-usage-as-a-percent-of-total-usage-has-fallen-report\/","title":{"rendered":"# Illicit crypto usage as a percent of total usage has fallen: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3850817da87\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3850817da87\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/illicit-crypto-usage-as-a-percent-of-total-usage-has-fallen-report\/#%E2%80%9D_Illicit_crypto_usage_as_a_percent_of_total_usage_has_fallen_Report_%E2%80%9C\" >&#8221; Illicit crypto usage as a percent of total usage has fallen: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Illicit_crypto_usage_as_a_percent_of_total_usage_has_fallen_Report_%E2%80%9C\"><\/span>&#8221; Illicit crypto usage as a percent of total usage has fallen: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Illicit cryptocurrency activity in 2021 and the first quarter of 2022 has declined as a percentage of overall crypto activity, according to blockchain forensics firm CipherTrace.<\/p>\n<p>The cryptocurrency industry has long held a reputation in some jurisdictions as a haven for illegal activity. However, CipherTrace estimates that illicit activity was between 0.62% and 0.65% of overall cryptocurrency activity in 2020. The firm reported that it has now fallen to between 0.10% and 0.15% of overall activity in 2021.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/4ad4f000-75fb-4a70-bb0b-7a68fb40089e.png\"><figcaption style=\"text-align: center;\"><em>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ciphertrace.com\/crypto-crime-combatting-hacks-thefts-and-fraud-in-the-decentralized-finance-ecosystem\/\">CipherTrace<\/a><\/em><\/figcaption><\/figure>\n<p>In its Cryptocurrency Crime and Anti-Money Laundering <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ciphertrace.com\/crypto-crime-combatting-hacks-thefts-and-fraud-in-the-decentralized-finance-ecosystem\/\">Report<\/a> released June 13, CipherTrace outlined that the top ten decentralized finance (DeFi) hacks in 2021 and Q1 2022 netted attackers $2.4 billion.<\/p>\n<p>Over half of that figure came from just two events, the largest being the late March 2022 Ronin Network exploit worth about $650 million and the $610 million August 2021 hack of the Poly Network, most of which was returned by the anonymous hacker.<\/p>\n<p>Within a similar time period, anti-money laundering (AML) related fines in the banking sector increased dramatically with 80 institutions fined in 2021, up from just 24 in 2020 according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.kyckr.com\/resources\/aml-fines-2021\">Kyckr<\/a>.<\/p>\n<p>While the total dollar amount of the fines fell from 2020, last year saw the banks pay $2.7 billion worth of fines for AML or Know Your Customer (KYC) related violations, the largest single fine totaling around $700 million.<\/p>\n<p>While significant sums have been exploited in crypto, CipherTrace detailed the rapidly expanding crypto ecosystem, noting the total crypto market activity for 2020 was around $4.3 trillion, which grew to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately $16 trillion of activity just in the first half of 2021.<\/p>\n<p>CipherTrace says that the growth of the crypto market also brings with it increased scrutiny from the world&#8217;s regulators, who are \u201cstarting to take decisive action to ensure that the space isn\u2019t just a modern-day wild west.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>A life after crime: What happens to crypto seized in criminal investigations?<\/em><\/strong><\/p>\n<p>Some of the most significant regulatory events cited in the report include the United States President Biden\u2019s crypto executive order in March to study blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>, Dubai establishing a virtual assets regulator, and the European Union\u2019s proposed anti-money laundering laws.<\/p>\n<p>CipherTrace added organizations are going to have a \u201cvery real incentive to shape up\u201d or face \u201cheavy losses at the hands of the government,\u201d adding it expects the threats existing in crypto will be the focus of future regulatory efforts.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/illicit-crypto-usage-as-a-percent-of-total-usage-has-fallen-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Illicit crypto usage as a percent of total usage has fallen: Report &#8220; Illicit cryptocurrency activity in 2021 and the first quarter of 2022 has declined as a percentage of overall crypto activity, according to blockchain forensics firm CipherTrace. The cryptocurrency industry has long held a reputation in some jurisdictions as a haven for&#8230;<\/p>\n","protected":false},"author":1,"featured_media":462469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvNTYwMDhkMzItYzM2Ny00MjA3LWJmYzktNGQ3YTJhY2RlNGFmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74859,79806,74894,74882,74939,75566,72366,70944,71101],"class_list":["post-462468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-aml","tag-analysis","tag-blockchain","tag-hacks","tag-market-analysis","tag-report","tag-data","tag-hackers","tag-scams"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=462468"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462468\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/462469"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=462468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=462468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=462468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}