Bitcoin the Cryto of Choice for Criminals: Analysis

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Bitcoin the Cryto of Choice for Criminals: Analysis

Saturday, Apr 27 2019

Cryptocurrency

Written by FinTech News Brief Staff

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Bitcoin the Cryto of Choice for Criminals: Analysis

An “overwhelming majority” of criminals, 95% according to one analysis, prefer Bitcoin over other cryptocurrencies for “illicit activity.” So reports Fortune.

Jonathan Levin, co-founder and COO of Chainalysis, which makes software helping law enforcement and cryptocurrency firms trace transactions, said its value and volume make it easy to spend and trade, likely contributing to its popularity amongst criminals. Many opioid busts in recent months have come from blockchain analysis, allowing authorities to trace illegal drug purchases made with cryptocurrencies.

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