February 27, 2024

In 2019, more than $ 11 billion was withdrawn from China through cryptocurrencies

Capital outflow from China through cryptocurrencies amounted to $11.4 billion last year, 8btc reports, citing a report.PeckShield Company.

According to the researchers of the company,specializing in blockchain security, $ 17.9 billion was withdrawn from the country through digital assets in 2018, and $ 10.1 billion a year earlier. The total figure over the past three years has exceeded 1% of China's foreign exchange reserves, which amount to $ 3 trillion.

However, in 2018 alone, the amount of foreign direct investment in the country reached $ 143 billion.

In addition to capital flight through cryptocurrencies, PeckShield experts examined the damage from industry security incidents and the volume of digital asset transactions on the darknet.

According to the report, the losses associated with 63 major security incidents last year approached $ 7.7 billion.

Researchers found on darknet approximately60 thousand sites, about half of which are involved in illegal cryptocurrency transactions. Demand for the latter is growing - if in 2018 330,000 BTC fell into the dark network, then last year this amount amounted to 540,000 coins.

PeckShield experts also found that nearly 30,000 BTC were sent from the darknet to major exchanges during the year.

Recall that the Chinese authorities in recent months have tightened control over crypto trading. At least five bitcoin exchanges closed in the country, and one of them was arrested.