Cryptocurrency crime reaches USD 100 million in Mexico

Friday 11 March 2022 14:31 CET | News

Blockchain data platform Chainalysis has published its study "Global Cryptocrime 2022", which has shown that Mexico is among the four countries with the highest use of cryptocurrencies in Latin America.

According to a Chainalysis representative, between July 2019 and June 2020, Mexico received the equivalent of USD 2.4 billion in cryptocurrencies, while, in the same period, transaction volume for person-to-person trade was USD 15.6 billion. Based on these figures, Chainalysis identified that the value received in Mexico, in said period, of illicit flows with cryptocurrencies reached USD 57 million, while the illicit value sent to wallets in other countries was calculated to be USD 39 million.

Together, both the amount sent and received add up to USD 96 million. A Chainalysis representative also stated that although criminal activity in the world of cryptocurrencies is low compared to that in the traditional financial system, growth in illicit activity with crypto has been detected in Latin America in recent months. According to data from Chainalysis, Latin America accounts for between 7% and 10% of all illicit activity in cryptocurrencies globally.

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Keywords: study, report, cryptocurrency, financial crime, cybercrime, crypto asset
Categories: DeFi & Crypto & Web3
Countries: Mexico
This article is part of category

DeFi & Crypto & Web3

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