$5.1 Billion in Illicit Crypto Transactions Linked to UK Every Year: NCA
Summary
The UK's National Crime Agency reported that up to $5.1 billion of illicit crypto transactions are linked to the country annually. Crypto-related crime is increasing, with money laundering rising and criminals using crypto for illicit activities. The NCA formed a specialized crypto unit and gained increased seizure powers over cryptocurrency. The report detailed the takedown of LockBit, a ransomware gang that amassed over $120 million in ransom payments. This led to the freezing of over 200 cryptocurrency accounts and arrests worldwide.
