Chainalysis Finds That Only 1.1% of All Crypto Transactions in 2019 Were Related to Illicit Activity

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Chainalysis Finds That Only 1.1% Of All Crypto Transactions In 2019 Were Illicit

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  • Out of the over USD 1 trillion of crypto transactions in 2019, only 1.1% involved illicit activity

Reputable blockchain forensics firm Chainalysis has found that only 1.1% of the over USD 1 trillion of cryptocurrency transactions in 2019 involved illicit activity. Equivalently, 98.9% of all crypto transactions in 2019 involved legitimate and above board activity.

Bitcoin and cryptocurrency has often been lambasted as being a haven for criminals and terrorists, but this data clearly shows that these accusations can be put to rest, since 98.9% of all crypto transactions have nothing to do with illegal activity, not to mention the fact that any currency, such as fiat, can be used by criminals.

Further, Chainalysis found that the percentage of crypto transactions involving Darknet markets continues to dwindle, and this trend is due to a surge in crypto exchange trading, investment, mining, and other crypto services.

Notably, Chainalysis also found that cryptocurrency hacking has been decreasing since 2018 due to increased cooperation between exchanges and better security.

Overall, this data shows that the crypto space is becoming more and more legitimate, with illegal activity being associated with only a small vestige of users.

 

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