Cryptocurrency crimes may have hit a slump in 2020, but one kind of crypto crime saw a 300% increase as the pandemic raged on. And it’s here to stay. - AML Intelligence
AML Intelligence
Business Intelligence on AML and Financial Crime for Executive Leaders

Crypto, Cyber, Regulatory

Cryptocurrency crimes may have hit a slump in 2020, but one kind of crypto crime saw a 300% increase as the pandemic raged on. And it’s here to stay.

Ransomware might have accounted for only 7% or $350M of all funds received by criminal addresses — but that’s a 311% increase over 2019.

By Vish Gain for AMLi

As a silver lining of sorts, 2020 was a surprisingly good year for regulators of cryptocurrency-related crimes as the fraction of illicit funds fell to less than a third of the previous year. But one kind of crypto crime in particular saw a dramatic rise, prompting experts to reconsider priorities for the year ahead.

Login here or become a subscriber to AML Intelligence.
Login Subscribe Now