Blockchain data analytics firm Chainalysis has published that criminal whales account for 3.7% of all crypto whales.

These criminal whales collectively own more than $25 billion in cryptocurrency.

Roughly 4% of crypto whales are criminals:

Cryptocurrencies have many advantages, and many experts claim that they represent a financial revolution.

However, bitcoin and altcoins also have their critics, arguing that drug dealers, terrorists and money launderers use these currencies for their illegal activities.

In line with the aforementioned accusation, the New York-based blockchain analysis firm identified 4,068 stolen cryptocurrency owner whales (3.7% of all whales) who collectively own more than $25 billion in cryptocurrency.

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The company explained that each whale owns more than $1 million in cryptocurrency.

It should be noted that most whales received either a relatively small or a large share of their total stock from illegal addresses.

1,374 whales got between 10% and 25% of their assets from illegitimate wallets, while 1,361 whales had between 90% and 100% of stolen cryptocurrency.

The illicit money received by the criminal whales came from various sources.

The dark web (37.7%) ranked first, while fraud (32.4%) ranked second.

Cryptocurrency and money laundering:

Not long ago, a blockchain analysis firm revealed that the total value of cryptocurrencies laundered in 2021 was $8.6 billion — 30% more than in 2020.

Chainalysis explained that these numbers only represent money coming from crypto-crime, including darknet market sales or ransomware attacks.

• Source.

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