RATE Group | Only 1% of $1 Trillion Transacted in Crypto in 2019 Was Illicit
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Only 1% of $1 Trillion Transacted in Crypto in 2019 Was Illicit

06 Mar Only 1% of $1 Trillion Transacted in Crypto in 2019 Was Illicit

Posted at 00:07h in Cryptocurrency News by

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According to Chainalysis’ March 5th webinar, over $1 trillion worth of cryptocurrency transactions took place in 2019 with only 1.1% of them being illicit. 

Source: Chainalysis

Diminishing of darknet markets

Overall, as crypto adoption keeps on growing and the number of use cases for cryptocurrency expands, illicit transactions on a percentage basis, keep diminishing; implying that the industry today is much healthier than in the early days when much of the volume was driven by darknet markets.

Industry-wide cooperation thwarts crypto hackers

Source: Chainalysis

As more cryptocurrency enters exchanges, they remain the most coveted targets for crypto hackers. However, the criminals’ success rate has decreased. There was an inflection point after 2018 when the criminals got away with almost 1 billion dollars worth of cryptocurrency. These numbers have been dwindling ever since.

Source: Chainalysis

Not only the exchanges have implemented more sophisticated cybersecurity measures, but…

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