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Which is the most used for illegal activities?


Cryptocurrencies and illegal activities are often mentioned in the same sentence, especially by those who do not support the idea of ​​digital assets. Its anonymous nature leaves room for attacks that cryptocurrencies are mainly used for illegal transactions, but some reports may shed more light on the case, as reported on the Crypto Potato website.

What is used for illegal activities?

Violators already existed long before the criptomonedas. Some people claim that criminals have become much more sophisticated with crypto assets. However, analyzing hard data, we can conclude something a little different.

A CNN report of eleven years ago indicates that 90% of US accounts. UU. They contain real traces of cocaine. Although not all were used in illegal transactions involving the famous drug, they were contaminated by being hidden side by side.

Similar cases are part of the reason why many people request an electronic payment method, hence the appearance of credit and debit cards. In addition, this is also the why and how the need for a form of digital payment, including Bitcoin, occurred.

It is also noteworthy that the CNN report was a long time ago. Despite this, another novelty of Europol shows that money remains the king when it comes to illegal activities. The study considered cryptocurrencies, but the conclusion was unmistakable: the most commonly used form of payment for money laundering remained money, that is, the FIAT currency was REAL, DOLLAR, EURO, etc.

Bitcoin involvement in illegal activities.

While money can still be quite popular among criminals, Bitcoin and alternative currencies have no shortage of history or presumed use.

Arguably, the most important place comes from the famous Silk Road market, which served as the black market and is generally considered the first modern dark network market to sell illegal goods and services. The TorBrowser hidden service provided the greatest anonymity, allowing users to browse or shop without being monitored. In addition, Bitcoin was the most widely used (and sometimes the only) form of payment, which made its paper quite considerable.

“The anonymity properties have been achieved by combining the anonymity properties of the TorBrowser hidden services network, which make the IP addresses of the client and the server unknown to each other and to the external observers, with the use of the payment system electronic. Bitcoin, pseudonym and decentralized. ”- as cited in this article.

With the disappearance of Silk Road, the use of Bitcoin for illegal activities has decreased significantly. However, it is not yet perfect, which probably will never be, since nothing really is. A more recent report two years ago, just after the price increases that attracted the attention of the media, show quite different but not very optimistic figures.

At the time of publication, the authors estimated that “$ 76 billion in illegal activities per year involves Bitcoin (46% of Bitcoin transactions), which is close to the scale of the US illegal drug markets. UU. And Europe », that when the prevailing interest and adoption increase towards the largest (or any other) cryptocurrency, illegal participation decreases. This is logical, because when more people get involved, in percentage terms, it leaves less for illicit activities.

¿Bitcoin is actually involved in illegal activities?

Reports often provide concrete data and figures that attract the confidence of readers. However, sometimes the documents provide different information according to the point of view taken into account. While the above indicates that almost half of all Bitcoin transactions are illegal in nature, the CryptoPotato site recently showed two other reports with very different results.

The first is responsible for the third largest cryptocurrency by market capitalization – Ripple. He notes that $ 400 million of all transactions processed using XRP were linked to illegal activities. This represents only 0.2% of its entire volume.

In addition, the latter focuses primarily on Bitcoin and provides a much smaller number than the previous 46%. It concludes that 0.5% of all transactions involving the largest cryptocurrency are supposedly linked to these illegal activities.


Illegal activities have existed for thousands of years and probably (and unfortunately) will never cease to exist.

Bitcoin, like some cryptocurrencies, is a payment method, although some skeptical regulators do not yet recognize it. As such, it can be used for regular activities, such as buying coffee or plane tickets, but also for illegal activities. In fact, if this sounds familiar, it is probably because the most recognized form of payment, money, does (or can do) the same things, but to a greater extent, since (it still) has a much wider usability . .

Does this mean that money is terrible, and we must judge or ignore it? Definitely not. This means that it is a form of payment with its ups and downs, but the most important thing is a tool. And Bitcoin too. Why blame the tool to fulfill its purpose?

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