News 76% of laundered cryptocurrency was washed with an exchange...

76% of laundered cryptocurrency was washed with an exchange service

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An overwhelming majority of 2018’s criminally-connected cryptocurrency was ultimately laundered on basic online exchange services.

Blockchain researchers at Chainalysis have calculated that roughly 64 percent of last year’s dodgy cryptocurrency, which amounted to over $1 billion, was washed by simply depositing it onto digital asset exchanges and trading it.

Money launderers used other peer-to-peer (p2p) exchange services to clean a further 12 percent of their illegal proceeds.

76% of laundered cryptocurrency was washed with an exchange service