These addresses received $2 billion in cryptocurrency from illicit sources as well, making China a large player in digital-currency related crime, it added. The vast majority of China’s illegal fund movements in crypto has been related to scams, although that has declined as well, the Chainalysis report said. Chainalysis described China as the hub of the global fentanyl trade, with many Chinese producers of the drug using cryptocurrency to carry out transactions. Money laundering is another notable form of crypto-based crime disproportionately carried out in China, Chainalysis said. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Richard Chang)Related article: Losses from cryptocurrency crime surge
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