$25 Billion worth of Digital Assets Held by Criminal Crypto Whales: Chainalysis Report


“In a research published by Chainalysis, a staggering $25 Billion worth of digital assets have been held in the wallets of the criminal crypto whales. Out of all the crypto whale wallets, the criminal crypto whales account for 3.7% of the wallets.”

The blockchain analysis firm Chainalysis has published a report showcasing the current status of the amount of digitals assets held by the criminal crypto whales. According to the firm, the criminal crypto whales are those entities or the private wallets which hold $1 Million or more in crypto and out of all these funds at least 10% of the funds stem from illicit addresses. According to the research, these criminal crypto whales hold more than $25 Billion worth of digital assets in their private wallets and these criminal crypto whales account for 3.7% of all the crypto whales.

The firm also reported that the year 2021 saw a huge surge in these criminal wallets and balances in them. Out of all these funds the stolen funds accounts for 93% of all the criminal activities whereas the remaining 7% accounts for Darknet Market Funds, scams, fraud shops and ransomwares. It was also found in the research that the darknet market vendors hold on the illicit funds the longest whereas the criminals that have stolen the funds tend to keep them for the shortest time possible.

Chainalysis has been helping Governments, regulators and banks to seize the criminal balances wherever possible and all the above stated funds might be seized in the future as the crypto forensics evolves. Also, as the blockchains use public ledger, moving funds in and out of a criminal wallet can be tracked easily and as soon as the criminal tries to withdraw the amount to an exchange for liquidation, the criminal can be caught.