CipherTrace Publishes AML, Crypto Crime Report

CipherTrace, acquired by Mastercard (NYSE: MA) in 2021, has posted a report on money laundering and crypto crime.

This report focuses on “dark markets” and “cross-chain bridges” as well as trends in nefarious activities like AML/KYC transgressions, fraud, hacks, and theft.

The notes that at the end of Q3 aggregate market cap of crypto assets, including stablecoins, stood at approximately $1.1 trillion (far below its nearly $3 trillion high).

Some information of note provided in the report:

  • Hacks and exploits totaled $383 million in Q3.
    • Nomad $200m
    • Wintermute $160m
    • Crema finance $8m
    • Audius $6m
    • Solana $5m
    • Nirvana $3.5m
    • Curve $600k
    • Total – $383m

The report states that there is a significant amount of criminal activity involving crypto on the darknet. The most significant darknet marketplace is Tor with others being I2P, freenet, and zeronet.  The largest English-speaking darknet markets include AlphaBay, ASAP Market, and Bohemia.

AlphaBay is the largest Monero-only darknet market, followed by Monopoly Market, which was originally a Monero-only service, but now accepts Bitcoin.

English-speaking darknets are the most active at 58% of transactions, followed by Russia at 28%.

Some of the most active fraud entities include Benumb, Biden Cash, Brians Club, Genesis Market, HGN01, and Rescator.

There is some interesting information included in the report but you have to first hand over you email and other information.


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