Chainalysis Study Shows Criminal Whales Hold $25B in Digital Assets, Entities Represent 3.7% of All Crypto Whales – Bitcoin News - BitcoinEthereumNews.com
According to research published by Chainalysis, criminal entities hold more than $25 billion in cryptocurrencies. The blockchain intelligence firms study shows that there was a significant increase in crypto balances held by criminals in 2021 as the metric jumped by 266% since the year before. Chainalysis Studies Crypto Whales Holding Balances Tied to Illicit Addresses The blockchain surveillance company Chainalysis published a study that indicates $25 billion in digital assets is currently held by criminals. Despite the significant law enforcement seizures last year, the billions of dollars in crypto held by criminal entities on the blockchain could theoretically be seized by officials. Chainalysis‘ findings explain that 2021 saw a “huge increase in criminal balances.” In 2020, Chainalysis says the metric was $3 billion but in 2021, criminal entities held roughly $11 billion. Moreover, out of stolen funds, ransomware, fraud shops, and darknet funds, the balance of stolen funds represent the lion’s share of crypto held by criminals. “As of the end of 2021, stolen funds account for 93% of all criminal balances at $9.8 billion. Darknet market funds are next at $448 million, followed by scams at $192 million, fraud shops at $66 million, and ransomware at $30 million,” the Chainalysis report details. “Criminal