Shock! Are Cryptocurrencies Becoming a Black Money Paradise? (The details will shake your heart!)
Is the cryptocurrency market used for money laundering? Last minute information made our blood run cold! Research reveals that $100 billion worth of "dirty" crypto money has been transferred to exchanges in the last 5 years. This amount makes the entire crypto market uneasy.
So, where is the source of this dirty money?
* Sanctioned Services: Analysts state that approximately one-third of this amount comes from sanctioned crypto services.
* Dark Business: The remaining part is mostly obtained from dirty business such as black market, fraud, ransomware and malware.
The Most Dangerous Tool: Stablecoins
What is even more surprising is that stablecoins make up the majority of “suspicious” transfers. This casts a shadow over the entire crypto market.
Where Does Dirty Money Go?
While some of this dirty money originates from sanctioned services, the vast majority is funneled to the top 5 crypto exchanges. But criminals' money laundering methods are not limited to this! DeFi applications, betting sites, crypto mixers and cross-chain bridges are also frequently used in this dirty work.
How do you think the cryptocurrency market can be cleared of this dirty money?
Share your thoughts in the comments! What should cryptocurrency investors do about this? Don't miss expert opinions!
Remember, this is not investment advice. Invest based on your own research.