Encryption crime in 2021 to create a new high

This block chain analysis company recently reported that the illegal address of criminals received a $ 14 billion in digital currency, an increase of 79% over 2020.

Chainalysis said that as of early 2022, the illegal address has held an encrypted currency worth more than 10 billion US dollars.

The report also shows that the main factors in the pirate funds and fraud may be due to the rise of the deci of financial (DEFI) – which promotes the borrowing of the traditional banking business.

In 2020, the total amount of encrypted currency that was stolen from the DEFI platform was 335% from 2019, as the encrypted currency of the DEFI platform was less than $ 162 million, accounting for 31% of the total stolen in the year. CHAINALYSIS said that by 2021, this figure increased by 1,330%, reaching $ 2.3 billion.

“Increased crime associated with DEFI is an example of criminals often utilize new technologies,” CHAINALYSIS research leader Kim Grauer tells Reuters.

“When DEFI began to grow this year, we saw the DEFI protocol used in money laundering significantly, while DEFI protocols became a practical victim of hackers and other crimes.”

The huge gains such as Shiba INU have prompted investors to venture capital of DEFI, and the transaction has soared 912% in 2021.

The illegal address in Encrypted the world is defined as a “wallet” related to criminal activities such as lessers, Pangsuz scam and fraud. In 2021, illegal activities were still very low in total encrypted trading volume, only 0.15%. Last year, the total trading volume soared to $ 15.8 trillion, an increase of more than 550% over 2020.

However, CHAINALYSIS said that as more addresses related to illegal transactions are found, 0.15% of numbers may increase.

CHAINALYSIS said in its latest encrypted crime report, 2020 0.34% encryption transactions are related to illegal activities – this number is now 0.62%.

“The crime of encrypting currency is a huge obstacle to continue using encrypted currency, increasing the possibility of government implementation restrictions, the worst, the world’s innocent people,” CHAINALYSIS said.