Illicit Crypto Flows Reach $100 Billion Since 2019, Impacting These Key Sectors

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A recent report by Bloomberg has revealed that suspected digital wallets have been responsible for distributing nearly $100 billion in illicit funds across the crypto market since 2019, with a significant portion flowing through two key sectors of the industry.

At the time of writing, the total crypto market capitalization stands at $2.07 trillion, down from a high of $2.7 trillion reached during the uptrend in the price of the largest cryptocurrencies in the first quarter of the year.

Chainalysis’ Grauer concluded by highlighting the adoption of pattern recognition tools similar to those used by traditional banks as the research director believes that cryptocurrencies have become more integrated into the financial ecosystem.

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Article Details

Author / Journalist: Ronaldo Marquez

Category: Crypto

Markets: Hungary

Topics: Crypto news Cryptocurrency Illicit crypto Centralized Exchanges Crypto News Digital currency Cryptocurrencies Stablecoin market Crypto Crypto regulation DeFi

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-12 @ 05:30:05 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 440 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21581336

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