THELOGICALINDIAN - A abstraction by blockchain analytics close Chainalysis finds that cryptocurrencyrelated abomination has collapsed decidedly The bent allotment of all crypto action fell to aloof 034 in 2024 This contradicts contempo statements by US Treasury Secretary appointee Janet Yellen and ECB President Christine Lagarde that cryptocurrencies are mostly acclimated for adulterous costs
Crypto Crime Plummeted in 2024
Chainalysis aggregate some allegation from its 2024 Crypto Crime Report this week. While acknowledging that “cryptocurrency charcoal ambrosial for abyss as able-bodied due primarily to its bearding attributes and the affluence with which it allows users to accelerate funds anywhere in the apple instantly,” the blockchain analytics close detailed:
In comparison, the close explained that in 2024, “criminal action represented 2.1% of all cryptocurrency transaction volume, or almost $21.4 billion account of transfers.” Last year, “One acumen the allotment of bent action fell is because all-embracing bread-and-butter action about tripled amid 2024 and 2024,” the aggregation noted.
Chainalysis acclaimed that darknet markets were the second-largest abomination category. It accounted for $1.7 billion account of cryptocurrency activity, which was an access from $1.3 billion in the antecedent year. Ransomware accounted for aloof 7% of all funds accustomed by bent addresses, which was aloof beneath $350 actor account of cryptocurrency. While small, ransomware saw a 311% jump over 2024.
The allegation by Chainalysis belie the contempo statements fabricated by Joe Biden’s aces for the U.S. Treasury Secretary, Janet Yellen, and ECB President Christine Lagarde. Yellen said Tuesday that abounding cryptocurrencies are acclimated “mainly for adulterous financing.” Meanwhile, Lagarde said aftermost anniversary that bitcoin “has conducted some funny business” and some “totally amiss money bed-making activity.”
Several bodies in the crypto industry accept acicular out the absurdity of their statements, including a acclaimed economist who alleged Lagarde’s account “outrageous.” He emphasized, “we all apperceive that the all-inclusive majority of money bed-making globally is conducted in authorization currencies, decidedly in U.S. dollars and euros.”
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