Fun

Chainalysis Study Shows ‘Criminal Whales’ Hold $25B in Digital Assets, Entities Represent 3.7% of All Crypto Whales

News Feed - 2022-02-25 07:02:32

Chainalysis Study Shows "Criminal Whales" Hold $25B in Digital Assets, Entities Represent 3.7% of All Crypto Whales


According to research published by Chainalysis, criminal entities hold more than $25 billion in cryptocurrencies. The blockchain intelligence firm’s study shows that there was a significant increase in crypto balances held by criminals in 2021 as the metric jumped by 266% since the year before. Chainalysis Studies Crypto Whales Holding Balances Tied to Illicit Addresses


The blockchain surveillance company Chainalysis published a study that indicates $25 billion in digital assets is currently held by criminals. Despite the significant law enforcement seizures last year, the billions of dollars in crypto held by criminal entities on the blockchain could theoretically be seized by officials.



Chainalysis’ findings explain that 2021 saw a “huge increase in criminal balances.” In 2020, Chainalysis says the metric was $3 billion but in 2021, criminal entities held roughly $11 billion. Moreover, out of stolen funds, ransomware, fraud shops, and darknet funds, the balance of stolen funds represent the lion’s share of crypto held by criminals.


“As of the end of 2021, stolen funds account for 93% of all criminal balances at $9.8 billion. Darknet market funds are next at $448 million, followed by scams at $192 million, fraud shops at $66 million, and ransomware at $30 million,” the Chainalysis report details. “Criminal balances also fluctuated throughout the year, from a low of $6.6 billion in July to a high of $14.8 billion in October.” Darknet Workers Hold Crypto the Longest, Criminal Crypto Whales Hold Longer Than Typical Addresses Associated With Stolen Funds


Furthermore, the Chainalysis study identified which types of criminals held crypto the longest without liquidating, and darknet market vendors and administrators ruled the roost. Entities that hold stolen crypto funds hold on to the funds for the shortest amount of time, according to the research.


Although, there are “extremely large wallets that hold longer than is typical for others in the stolen funds category.” By analyzing the balances of criminal whales, the firm was further able to notice that the whales showed “more variation.”



As far as describing what a criminal crypto whale is, Chainalysis researchers said that it is any private wallet holding $1 million in crypto and at least 10% of the funds stem from illicit addresses. Chainalysis discovered that there are thousands of alleged criminal crypto whales and it seems that most criminal whales can be placed in one of two categories — “whales received either a relatively small or extremely large share of their total balance from illicit addresses.”


“Overall, Chainalysis has identified 4,068 criminal whales holding over $25 billion worth of cryptocurrency,” the company’s study said. “Criminal whales represent 3.7% of all cryptocurrency whales — that is, private wallets holding over $1 million worth of cryptocurrency.” Tags in this story $1 million in crypto, $25 Billion, 2020, 2021, blockchain intelligence firm, Blockchain Surveillance, Chainalysis, Chainalysis study, criminal entities, criminal whale balances, Criminal whales, Crypto Whales, darknet funds, darknet market vendors, fraud shops, ransomware, Stolen funds, Whales


What do you think about the Chainalysis study that shows criminal whale addresses hold $25 billion in crypto assets? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Ukraine Central Bank Limits Cash Withdrawals Amid Russian Assault NEWS | 3 hours ago Luna Foundation Guard Raises $1 Billion to Safeguard UST Dollar Peg NEWS | 1 day ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleHow to Avoid the Five Most Common Crypto Tax Mistakes I Cointelli Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItGlobal Regulators "Going Full Steam" on Crypto — Official Says "Current Structure Is No Longer Fit for the Purpose"


Global regulators are "going full steam" on cryptocurrency regulation. "The current structure is no longer fit for the purpose with the development of cross-border digital market activities," said the chairman of France"s markets watchdog AMF. Global Regulators Going Full Steam ... read more.Fintech Specialists Predict Ethereum Price Hitting $6,500 This Year Before Rising to $26,338 by 2030 JPMorgan Predicts Long-Term Bitcoin Price of $150K — Outlines Challenges Ahead Fitch Ratings Downgrades El Salvador Deeper Into Junk Status Citing Bitcoin Risks RBI: Cryptocurrency Is a Big Threat to Macroeconomic and Financial Stability in India

News Feed

Cointelegraph Innovation Circle8 hours ago11 potential impacts on crypto and the market from the rise of CBDCsThe ultimate impacts of CBDCs on the crypto industry may be a mixed bag of positives and negatives, and inside
Rakesh Upadhyay5 hours agoBitcoin price cracks $30K, possibly clearing a path for SOL, LINK, AAVE and STXBitcoin’s strong rally to $30,000 may have kick started a sharp recovery in SOL, LINK, AAVE and STX.3435 Total vi
Hong Kong to Start Testing Digital Currency in Coming Months
Hong Kong to Start Testing Digital Currency in Coming Months China’s special administrative region of Hong Kong is going to trial а digital version of its dollar as ea
Bitcoin for Spain’s Congress: BTC Sent to 350 Spanish Parliament Members
Bitcoin for Spain"s Congress: BTC Sent to 350 Spanish Parliament MembersBitcoin has been sent to 350 deputies of the Spanish Congress as part of an educational initiative similar to
Despite SEC Objection, Court Greenlights Billion-Dollar Asset Purchase Deal Between Binance US and Voyager
Despite SEC Objection, Court Greenlights Billion-Dollar Asset Purchase Deal Between Binance US and Voyager The asset purchase agreement between Binance US and bankrupt crypto lende
Biggest Movers: LTC Moves to 6-Month High, SOL up Nearly 20%
Biggest Movers: LTC Moves to 6-Month High, SOL up Nearly 20% Litecoin extended recent gains on Nov. 23, with the token climbing to its highest point since May. The move saw prices
Biggest Movers: DOGE Hits 1-Week High as Prices Rebound on Tuesday
Biggest Movers: DOGE Hits 1-Week High as Prices Rebound on Tuesday Dogecoin rose to a one-week high on Tuesday, as the meme coin rebounded from recent losses. The token rose by as
You can now deploy your own L3 rollup for $50 a month
Brayden Lindrea5 hours agoYou can now deploy your own L3 rollup for $50 a monthCrypto infrastructure startup Conduit says users can now launch their very own layer 3 with “only a few clicks.”810 Total views1 Total sh
POPCAT’s Firm Support At $1 Reignites Rally Toward New Heights
Este artículo también está disponible en español. POPCAT has reignited excitement in the market as buyers stepped in at the crucial $1 support level, halting the recent p
Venezuela Might Be Affected by Russian Banks’ SWIFT Suspension
Venezuela Might Be Affected by Russian Banks" SWIFT Suspension Analysts from Venezuela have expressed their worries about the expulsion of a number of Russian banks from SWIFT, an
Supply of Tokenized Bitcoin Dropped Significantly Since the Start of the Year
Supply of Tokenized Bitcoin Dropped Significantly Since the Start of the Year This year, the number of tokenized bitcoins hosted on alternative blockchains like Ethereum, has dropp
Bitcoinsv Chain Suffers 51% Attack: Analyst Claims BSV Network Experienced a 100-Block Reorg
Bitcoinsv Chain Suffers 51% Attack: Analyst Claims BSV Network Experienced a 100-Block Reorg Reports show that the Bitcoinsv blockchain suffered from a 51% attac