If 90 percent of Bitcoin's applications were linked to illegal activities in 2013, today the cryptocurrency is used for legal financial speculation in 90 percent of cases. Bitcoin and illegality are found in association only 10 percent of the time.
The $ 4 billion Bitcoin volume: 10 accurate crimes, 90% trading
Here are the data shared with Forbes from the United States Drug Enforcement Administration (DEA) agent, Lilita Infante. Only a handful of people on the planet could be more qualified to talk about this topic than you.
The Infante team specializes in investigations and computer crimes conducted with the help of the dark web. The crew of 10 people work closely with other units in the Justice Department. The illegal use of cryptocurrencies has long been in their hands.
As a result, Infante claims about Bitcoin's (BTC) 00 The use came more or less like a surprise – but this is definitely not all that there is to do.
Ten percent today does not mean today the same thing that meant five years ago. In January 2014, the first time the Bitcoin volume was recorded on the Coin Market Cap, the average daily volume of transactions was around $ 50 million.
Compared to today's $ 5 billion, these numbers undoubtedly explain why Infante also stated that the volume of illegal transactions involving cryptocurrencies is currently seeing new levels. Infante declared in an interview:
The volume has grown tremendously, the amount of transactions and the value of the dollar has grown tremendously over the years in criminal activities, but the relationship has declined & # 39;
The total volume of 90% of Bitcoin detected years ago was $ 45 million, while 10% of today's volume is no less than $ 500 million.
Naturally, the volume of illegal transactions is increased when these points are taken into account. At the same time, no one can say that Bitcoin is used primarily by criminals.
It is however true that criminals use Bitcoin
At the same time, Infante confirmed a fact known to many: the dark web works exclusively with cryptocurrencies, and has done so for years. Cryptocurrencies allow criminal actors to solve a series of illegal transactions in addition to simple money laundering.
They were, in fact, the first to test the advantages of fast, economical, safe and discrete transactions. This happened while the rest of the population asked if the blockchain was written with a word or two.
Blockchain does not work in favor of a particular person. It may derive from ignorance regarding the underlying technology or the cryptic genius itself, but the truth is that cryptocurrencies sometimes turn out to be the Achilles' heel of criminals.
According to Infante, cryptocurrency portfolios do not obscure criminals' identities as they once were. Although some cryptocurrencies claim to provide additional privacy, the DEA agent claimed to "still have ways to track them down".
What do you think of the DEA report on the use of Bitcoin for legal and illegal activities? Let us know in the comments below!
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