Eastern Europe has one of the largest cryptocurrency economies in the world. A recent report reveals that it’s the third-ranked global region for “overall exposure to illicit activity.”
Eastern Europe is the only world region with a total transaction volume of $400 million+ for which illicit activity makes up over 0.5% of the total digital currency value “sent and received,” the report from Chainalysis noted.
The blockchain security firm also mentioned that when looking in terms of raw value, Eastern Europe has “sent the second most cryptocurrency of any region to illicit addresses, behind only Western Europe.”
According to Chainalysis, one thing that stands out is that Eastern Europe sends more virtual currency to darknet markets than any other world region. This is “largely due to activity involving Hydra Market,” which is the world’s largest darknet market and “caters only to users in Russian-speaking countries throughout…