From April 2019 to June 2021, more than $2.2 billion worth of digital assets were sent from Chinese cryptocurrency wallets to addresses linked to illegal activities. This is according to a report by analytics company Chainalysis.
Among the cryptocurrency recipients were accounts linked to money laundering, fraud, drug trafficking and other illegal activities.
According to the document, the volume of illegal cryptocurrency transactions in China has declined sharply compared to other countries. Among the reasons, Chainalysis cited a reduction in fraud with the Ponzi scheme and measures by the authorities.
As a reminder, China sentenced 14 organisers of the PlusToken cryptocurrency pyramid scheme in December 2020.
Key participants in the scheme received prison sentences ranging from two to 11 years. In July 2020, the damages were estimated at $5.8bn.
As a reminder, China sentenced 14 organisers of the PlusToken cryptocurrency pyramid scheme in December 2020.
Key participants in the scheme received prison sentences ranging from two to 11 years. In July 2020, the damages were estimated at $5.8bn.
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