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Biggest Holders Of Cryptocurrency Are Criminals?


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According to a report, the biggest crypto holders in the world are criminal entities. Moreover, in 2021, 3.7% of all crypto whales in the globe were cryptocurrency criminals.

Additionally, the report also states that the Darknet Market has made a total of $2.1 billion in cryptocurrency. Furthermore, out of this sum, criminals siphoned off over $300 million from fraud shops.

As the digital asset is unregulated, criminal activity goes unchecked, and is beyond the control of the authorities. The report says that the total holdings of these crypto whales is worth $25 billion cryptocurrency.

With the increasing number of crypto scams and hacks, governments have slowly started stepping in. Additionally, there is a rise in the investigation of cryptocurrency criminals. Government agencies have started conducting seizures and detracting these crypto whales.

Darknet Crypto Market

For the unaware, Darknet is the hidden part of the internet. Accordingly, it helps in keeping internet activity anonymous and private.

Evidently, illegal activities like drug transfers, crypto crimes, child crimes are rampant on the Darknet. It is often called the evil manifestation of technology.

As per statistics,  80% of DarkNet market revenue is generated by the Hydra market that operates via crypto. It is the largest DarkNet market that serves only Russian-speaking countries.

Also Read: OpenSea Denies Hack, Calls Theft A Phishing Attack

4,068 Cryptocurrency Criminals Are Amongst The Biggest Holders

As per the data, there are around 4,068 crypto criminal whales in the world right now. Furthermore, these criminals have more than $1 million in their crypto wallets. Additionally, they are getting over 10% of their funds from illicit wallet addresses.

These cryptocurrency criminals received illicit funds through scams and the DarkNet. According to the stats, 93% of the criminal balances dominated by stolen funds. DarkNet funds falling second in line as the source of illicit funds.

Cryptocurrency criminals are using tricks like NFT rug pulls, DeFi hacks, crypto exchange scams to lure investors. However, slowly and steadily, authorities have started tackling crypto criminals.

Evidently, law enforcement authorities are using the same blockchain infrastructure to tackle criminals. Accordingly, this is helping governments to seize the stolen crypto and bring these criminals to justice.

Jahnavi Arora
Jahnavi Arora
Jahnavi is a freelance content writer.

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