Cryptocurrency crime at record high – Scammers make more than £10 billion

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As well as scams, cryptocurrency theft has grown with around £2.36bn ($3.2bn) stolen in 2021.

Use of cryptocurrencies to launder money has also become a key part of criminal activity involving tokens.

While the value of cryptocurrency involved in crime has increased considerably in total amounts, one positive though is it has in fact fallen proportionately given the wider surge in legitimate usage.

While illicit use has risen 79 percent, the total transaction value of all cryptocurrencies has grown 567 percent since 2020, to reach £11.67tr ($15.8tr) in 2021.

Transactions involving illicit addresses now represent just 0.15 percent of all cryptocurrency transactions, having fallen from 3.37 percent in 2019.