Criminals used Bitcoin to launder $2.5B in dirty money, data shows
New data shows criminals have laundered $2.5 billion worth dirty Bitcoin through cryptocurrency exchanges, and almost all of it ends up in countries with lax Anti-Money-Laundering (AML) regulations. Cryptocurrency research group CipherTrace conducted an analysis of 45 million transactions from the top 20 cryptocurrency exchanges globally in order to find out the prevalence of Bitcoin’s use for criminal purposes. The data, which spans from January 2009 to September 2018, indicates 97 percent of the Bitcoin laundered through top exchanges ends up in countries with lenient AML regulations. CiperTrace deemed transactions to be of criminal nature if they came directly from,…
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