Chainalysis: share of criminal-related transactions in cryptocurrencies

Analyst firm Chainalysis has reported a reduction in the share of cryptocurrency transactions linked to criminal activity in 2020.

In 2019, criminal entities accounted for 2.1% of total transactions ($21.1 billion). In 2020, the figure decreased to 0.34% ($10 billion).

Source: Chainalysis.

Analysts cite the growth of the cryptocurrency industry as the main reason for the decline in the share of criminal transactions. The total volume of transfers tripled over the year.

Chainalysis admitted that it underestimated the number of active addresses used for criminal activity in 2019. This is due to the detection of crimes after the data was counted. Analysts said figures for 2020 could rise for a similar reason.

Earlier, the company reported a 33% drop in cryptocurrency fraud revenue due to the COVID-19 pandemic.

Recall that Group-IB experts named bitcoin, Monero, Zcash, Dash and Komodo as the most popular among criminals.