Cybercriminals held $25 billion worth of cryptocurrency

• Reports stated that 4,068 cyber criminals held over $25 billion worth of cryptocurrency
• Internal Revenue Service seized over $3.5 billion worth of cryptocurrency
• Scammers held their funds for an average period of 65 days before liquidating

Digital money-based criminal adjusts expanded in 2021, according to the Chainalysis Crypto Crime Report 2022. 

The report features that toward the finish of 2021, digital lawbreakers represented $11 billion worth of extortion from illegal sources, when contrasted with three billion bucks, same time the earlier year. In 2021, taken reserves represented 93% of all criminal totals at $9.8 billion, trailed by darknet market assets at $448 million, tricks at $192 million, extortion shops at $66 million, and ransomware at $30 million. 

Additionally, criminal surpluses went as low as $6.6 billion in July to as high as $14.8 billion in October.

US Department of Justice seized $2.3 million worth of cryptocurrency 

Bits of knowledge from the report expressed that US Department of Justice (DOJ) seized $2.3 million worth of digital currency from DarkSide ransomware administrators that were considered answerable for the Colonial Pipeline assault in 2021. 

Essentially, Internal Revenue Service, Criminal Investigation (IRS-CI) seized more than $3.5 billion worth of digital currency during 2021, while London’s Metropolitan Service seized £180 million worth of cryptographic money from a thought tax criminal for that very year. 

In February, 2022, the DOJ seized $3.6 billion worth of digital currency which had associations with the 2016 Bitfinex hack.

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While 1,374 cybercriminals received between 10-25% of their funds from illicit addresses

According to the report’s information, the assets selling time for darknet market merchants, heads and illegal wallets fell by 75% in 2021. In the interim, ransomware administrators held their assets for a typical time of 65 days prior to selling.

The report recognized that digital crooks held 1,000,000 bucks each or more worth of cryptographic money, and got 10% of their assets from unlawful addresses in 2021. By and large, Chainalysis revealed that 4,068 digital lawbreakers held more than $25 billion worth of cryptographic money. 

The gathering addressed 3.7% of all digital currency based hoodlums, or 1,000,000 bucks worth of cryptographic money in confidential wallets. While 1,374 digital crooks got between 10-25% of their assets from unlawful addresses, 1,361 digital lawbreakers got between 90-100 percent of their complete equilibrium from illegal addresses.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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