Scams and other crooked things regularly make headlines in the crypto world. However, a look at the numbers reveals that the illegal transactions make up a negligible fraction of the total number of Bitcoin transactions. Chainalysis crypto analysts are keeping an eye on the Bitcoin blockchain. Their data show that around 890,000 BTC were in criminal hands on July 27. What may sound like a lot, however, only accounts for 0.5 percent of the total Bitcoin flows. In percentage terms, the vast majority of clandestine Bitcoin is concentrated in darknet markets. The digital transshipment points for drugs hold a total of around 585,000 coins. Theft also accounts for approximately 204,000 BTC and scams for 98,000. There are also 3,300 other Bitcoin linked to illegal activity.
Focus on bitcoin exchanges
Research suggests that a majority of the Bitcoin captured by the Twitter hack ultimately found its way on Bitcoin exchanges. This coincides with the data from Chainalysis, according to which illegal Bitcoin worth over $ 7 million has been placed on various crypto exchanges for washing in the past seven days alone. At this point at the latest, however, the crux of all illegal crypto activity becomes apparent. Because at least King Bitcoin is anything but completely anonymous. Although criminals can shoot their BTC through dozens of wallet addresses, the traces can still be traced with the necessary effort. The data material discussed here alone is an impressive testimony to this.