General Notes

Table of Contents

Miscellaneous notes that have nowhere else to be categorised under.

Money laundering

Cybercriminals laundered cryptocurrency worth $8.6 billion in 2021, according to figures from Chainalysis released on 26 January 2022. The blockchain intelligence firm’s data shows this is a 30% rise compared with the year before, but markedly below the all-time high of $10.9 billion that was recorded in 2019.

By comparison, estimates from the UN Office of Drugs and Crime suggest anywhere between $800 billion and $2 trillion in fiat currency is laundered every single year.

Overall, cybercriminals have laundered more than US$33 billion worth of crypto since 2017, Chainalysis estimated, with most of the total over time moving to centralized exchanges.

US dominates crypto trade

[Jan 2022] Arcane Research published a report showing US trading hours (3pm to 9pm UTC+1:) account for 43% of the 24 volume of crypto trading on average. “Trading activity tends to immediately pick up as the U.S. stock market opens.