- 97% of direct criminal bitcoin payments are sent to unregulated exchanges.
- 36 times more criminal bitcoin is received by cryptocurrency exchanges in countries
where AML is either weak or not enforced.
- Cryptocurrency money laundering on top exchanges involves a significant amount of
bitcoin—some 380,000 bitcoins or $2.5 billion at today’s prices.
- In the first three quarters of 2018, $927 million of cryptocurrency was stolen by
hackers; since the Q2 report, CipherTrace have recorded new reports of $166
- US FinCEN clarified its stance on regulating mixing services and included crypto-to-crypto
in its definition of money service businesses, MSBs, that are subject to the
Bank Secrecy Act (BSA) rules. It also enlisted the IRS to examine 100% of
cryptocurrency MSB transmitters for BSA compliance.
- Opportunities to launder cryptocurrencies will be greatly reduced throughout 2019
and 2020 if cryptocurrency AML regulations are successfully enacted and enforced
- New cryptocurrency crime threats continue to emerge, including highly targeted
mass cyber extortion, SIM swapping, and advanced cyberattacks on exchange
Source: Ciphertrace Report [pdf]