The total value of funds invested in cryptocurrencies is estimated at $2.1 trillion worldwide. This amount exceeds the sum of the top 10 banks. Crypto is skyrocketing because it has become a way to protect our money, but there are extra benefits for criminals:
a) Money laundering: The most popular way is to create fake reports to appear to have earned money investing in cryptocurrencies. In contrast, the cash proceeds for illegal activities such as trafficking or corruption.
This is relatively easy because most cryptocurrencies don’t create records in banks, so these records check on lightly regulated wallet provider platforms, which cooperate with those money launderers.
b) Dark market: The dark web offers anonymity to users, so criminals use it for illicit commerce of drugs, weapons, human traffic, and cybercrime. This only can be allowed because banks don’t participate in blockchain transactions, and the government can’t control them. There are no-illegal activities such as the marketplace of VPN networks which could be used to access forbidden sites, or tax-free products such as tires or fuel.
c) Tax evasion: Consists of hiding earrings or even feigning to lose money and avoid paying taxes. For example, you can invest in low-tax countries and then enter the capital in cryptocurrencies to your country, so the government can’t ask you for taxes because you can’t see those earnings enter. After all, in some countries, there is no regulation about it. You can also convert the money to cryptocurrencies to pay taxes on capital gains instead of paying for traditional businesses, which usually require more paying taxes
If you are curious, you can use your Tor browser to enter the Hydra site:
English manual to use Tor: https://hydramarketguide.com/
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