Criminal Whales Hold $25 Billion in Crypto Assets: Chainalysis Report

Chainalysis recently published an investigation into criminal enterprises, especially the so-called criminal whales, which hold huge sums of money in the form of cryptocurrencies.

The study claimed that criminal whales still own $25 billion in crypto assets, despite significant law enforcement seizures last year.

Cryptocurrency had a solid year in 2021, peaking at over $3 trillion in November, while bitcoin, which accounts for about a third of all cryptocurrency, also peaked until it dropped more than 40% last week.

Criminals who stole bitcoin have been among the biggest winners of rising prices as the number of cryptocurrencies linked to illegal operations has more than quadrupled since last year.

The Dark Web comes in second, supplying $448 million in illegal cryptocurrency. Scams are in third place with $192 million, Fraud Shops in fourth place with $66 million and Ransomware is in the last row with $30 million.

Criminal whales swallow big

According to the report, there was “a massive increase in criminal balances” last year, with criminal whales holding about $11 billion in 2021, compared to $3 billion in 2020.

In addition, the funds represent the lion’s share of crypto held by unscrupulous entities from stolen funds, ransomware, fraud, and illicit trade.

According to the latest figures, stolen funds over the years have accounted for 93% of all criminal balances. Criminal whales have obtained more than 10% of their money from illegal addresses. They account for 3.7% of cryptocurrency whales.

Chainalysis is a popular blockchain surveillance company that regularly publishes blockchain analysis research.

Total Crypto Market Cap at $1.711 Trillion in Daily Chart | Source:

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Illegal crypto-related activities

Whales are the biggest hodlers, with wallets holding more than $1 million worth of cryptocurrency.

According to the 2022 Global Threat Report from cybersecurity firm CrowdStrike, Iranian hackers were the largest contributor to ransomware activity worldwide through 2021.

Thefts rose 516%, accounting for $3.2 billion in illegal transactions, with the DeFi sector becoming a new source of concern.

“Criminal balances also fluctuated throughout the year, from a low of $6.6 billion in July to a high of $14.8 billion in October,” Chainalysis revealed.

Hodling is a phrase used in the cryptocurrency industry to describe individuals who hold large amounts of cryptocurrency without selling them in hopes of making a profit in the future.

on the bright side

Meanwhile, in a memo to investors, FSInsight predicted that Bitcoin would reach $200,000 in the second part of 2022.

According to FSInsight, Ethereum could hit a price of $12,000 this year, representing a 385% premium over where it is currently trading.

According to the analysis, cryptocurrencies are increasingly linked to infotech stocks. Sean Farrell, head of digital asset strategy, said this is due to “old market money joining the herd”.

Related article | Crypto Wallets of Russian Politicians Targeting Ukraine – Big Reward Up for Grabs

Featured image from Nairametrics, chart from

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