Criminal Activity No Longer Major Cause for Cryptocurrency Use

August 10, 2018

A special agent with the U.S. Drug Enforcement Administration (DEA) Lilita Infante told that cryptocurrency use for criminal purposes has plunged from 90% to about 10%. Lilita Infante is a member of special anti-cyber crime group that joins efforts of 10 people. The group is focused on dark web (shady economics sector in the internet) as well as crypto asset crimes. The group operates in collaboration with the Department of Justice, the Federal Bureau of Investigation and the Bureau of Alcohol, Tobacco, Firearms and Explosives.

Lilita Infante explained that in 2013 when analyzing crypto operations she found out that about 90% of all crypto transactions were performed for criminal purposes. In 2018 the situation has changed: the criminal share has sank down to 10% with the ground reason for all the rest transactions being speculation.

“That doesn’t mean criminals stopped using Bitcoin. Total transaction volume associated with illegal uses has surged since 2013”.

In June a high-ranked official at the US Secret Service urged the Congress to impose extra legislation for eliminating anonymity in crypto transactions. He stated that some crypto operations were used widely for illegal purposes.

In addition, special agent explained that anonymous coins like monero and zcash are insufficiently liquid so the crushing majority of deals still done in Bitcoin. Moving on, Infante says that although these coins are more anonymous than Bitcoin, they still got tools to trace them.


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