Nearly half of all Bitcoin transactions associated with illegal activities: Research

Close to half of all the Bitcoin transactions are associated with illegal activities and a quarter of all Bitcoin owners are involved in such activities, a research paper published by the students of the three different business schools have found.

The research paper titled Sex, drugs, and Bitcoin: How much illegal activity is financed through cryptocurrencies? published in January this year, estimates that 44 percent of all Bitcoin transactions, 25 percent of all users, 20 percent of the total dollar value of transactions and 51 percent of Bitcoin holdings are associated with illegal activities.