• The majority of illegally obtained bitcoins owned by darknet markets
• Crypto exchanges first point of contact for money laundering
• Policies are designed to reduce fraud
Which actors hold illegally appropriated bitcoins?
According to the crypto analysis portal Chainalysis, over 891,000 bitcoins are currently owned by illegal market participants. According to this, markets in the Darknet hold a share of over 585,000 units of the cryptocurrency. Fraudsters own more than 98,000 bitcoins, and thieves hold 204,000 bitcoins. - Trade Bitcoin with Plus 500 - how it works. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should carefully consider whether you can afford to take the high risk of losing your money. - Other illegal market participants hold around 3,600 bitcoins. According to Chainalysis, illegal actors keep the assets received until they can transfer them to legitimate services for money laundering. The illegal funds held back therefore represent the known extent of future potential money laundering, according to the analysis company.
Where illegal bitcoins are pushed?
Illegal funds are invested in legitimate services as the first stage of money laundering, Chainalysis continues. Regardless of whether the bitcoins were previously in the possession of darknet markets, fraudsters or thieves, they are then mostly pushed into crypto exchanges. According to the crypto portal Cointelegraph, these findings coincide with the latest observations on the hacker attack on Twitter. According to this, hackers, after taking over Twitter accounts from various celebrities and cheating users with bitcoins using false reports, quickly moved their newly received assets to exchange exchanges.
Guidelines are designed to protect traders
Chainalysis data shows that there are currently around 300,000 bitcoins in the hands of fraudsters and thieves. However, as Cointelegraph further reports, crypto exchanges have started to take action against money laundering and to carry out legitimacy checks in order to avoid fraud as much as possible. These guidelines are designed to prevent cybercriminals from pushing their stolen cryptocurrencies back and forth. This could also benefit the market, as criminals' sales could cause Bitcoin's exchange rate to collapse.