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HomeNewsBitcoin Spent On Illicit Activity Could Hit $1 Billion This Year

Bitcoin Spent On Illicit Activity Could Hit $1 Billion This Year

The report suggests that around $515 million worth of BTC (total flat value) has been spent on illegal activity so far this year and the figure is likely to double to $1 billion, by the year-end. Though a decline has also been observed in the amount of BTC spent on illegal services as opposed to legal ones

“Hydra” is reportedly the largest illegal dark web marketplace for spending BTC. BTC has been a hot favorite cryptocurrency for such marketplace, Monero (XRM) comes in second, as per the report. Notably, these markets are often involved in the distribution of drugs and/or illegal pornography.

Read more:British Regulator Plans a Potential Ban Of Crypto CFDs For Retail Investors

Image Source – Pixabay.com

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