Privacy wallets are used for more than 13% of money laundering crimes, reports Elliptic

Douglas Mabiria  - Expert Tech Reporter
Last updated: November 19, 2023
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Privacy wallets money laundering
  • Elliptic’s new study unveils that Bitcoin and other crypto-assets are used in various crimes, including money laundering.
  • Privacy wallets are being used to launder the funds using the crypto laundering process.
  • Also, PayPal recently made a significant move regarding cryptocurrencies adoption after a long anti-crypto stance.

One of the most evolving technologies, blockchain-backed cryptocurrencies, is anticipated to replace the traditional banking transferring system. However, Bitcoin (BTC) and crypto scams are no less a big threat.