Golden Finance reported that the latest report of the UK National Crime Agency (NCA) shows that the amount of illegal cryptocurrency transactions related to the UK is as high as $5.1 billion each year. The report pointed out that the frequency of cryptocurrency crimes has increased, especially money laundering activities, and this trend is expected to continue. The NCA said that cryptocurrencies remain an important tool in money laundering, dark web transactions and extortion, and their legal use also provides opportunities for crime. Illegal crypto transactions of $1.7 billion to $5.1 billion are related to the UK each year, of which a "significant part" involves corrupt elites overseas. In 2023, the NCA established a dedicated cryptocurrency unit and was granted greater seizure powers in April 2024, including the seizure of crypto assets without arresting suspects. The report also describes the role of the NCA in combating the LockBit cybercrime gang, which received more than $120 million in ransom from more than 2,000 victims worldwide.