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Only 2% of Bitcoin Transactions are Used for Illegal Purposes

1565196802 Bitcoin Price 864x467 - Only 2% of Bitcoin Transactions are Used for Illegal Purposes


The results of this study are in line with a research from competing analytics firm Chainalysis, which estimated just 1 percent of bitcoin transactions in 2019 were known to be associated with illicit activity.

As Elliptic is frequently hired by law enforcement agencies around the world to identify illegal activities using cryptocurrency, this research aimed to identify patterns that can help distinguish illicit usage from lawful bitcoin usage, especially among unbanked individuals or other unknown entities.



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