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From the article, a government spokesperson: "We recognize that the vast majority of activity that's happening in the virtual currencies is legitimate activity,

From the article, a government spokesperson: "We recognize that the vast majority of activity that's happening in the virtual currencies is legitimate activity," It seems like collective punishment? I am not sure about this.

kube-system 5y ago
> An analysis of known SUEX activity has shown that over 40% of transactions were associated with illicit actors That's really really high compared to cryptocurrencies as a whole, of which, less than 1% are associated with illegal activity.
- foepys 5y ago
  > That's really really high compared to cryptocurrencies as a whole, of which, less than 1% are associated with illegal activity. Where did you get this number from?
  - kube-system 5y ago
    Here's three sources: Chainalysis: https://blog.chainalysis.com/reports/2021-crypto-crime-report-intro-ransomware-scams-darknet-markets https://blog.chainalysis.com/reports/2021-crypto-crime-repor... Ciphertrace: https://ciphertrace.com/2020-year-end-cryptocurrency-crime-and-anti-money-laundering-report/ https://ciphertrace.com/2020-year-end-cryptocurrency-crime-a... Elliptic: https://www.elliptic.co/blog/cryptocurrency-money-laundering-risks-and-how-to-avoid-them https://www.elliptic.co/blog/cryptocurrency-money-laundering...
    - DSMan195276 5y ago
      It's perhaps worth pointing out that they have 2020 at 1% right now, but they also mentioned how they raised 2019 from 1.1% to 2.1% due to new discoveries (your first source mentions this). I question how effectively we can really quantify this if the number can double a year after being reported, at the very least it's hard to say how accurate the initial numbers are. It's probably more accurate to say 1% is a lower bound for 2020, but a lower bound is obviously not that useful. Perhaps it would be better to try and gather the amount of crypto use that is definitely legitimate, since that would at least give a theoretical upper-bound. Give the assumption that it's such a larger group that may just be too much to work through.
CircleSpokes 5y ago
I think the part about how 40% of transactions SUEX is involved in are "associated with illicit actors" makes this not collective punishment.
- judge2020 5y ago
  North Korea's trade wouldn't be entirely comprised of weapons either.

kube-system 5y ago

> An analysis of known SUEX activity has shown that over 40% of transactions were associated with illicit actors That's really really high compared to cryptocurrencies as a whole, of which, less than 1% are associated with illegal activity.

foepys 5y ago
> That's really really high compared to cryptocurrencies as a whole, of which, less than 1% are associated with illegal activity. Where did you get this number from?
- kube-system 5y ago
  Here's three sources: Chainalysis: https://blog.chainalysis.com/reports/2021-crypto-crime-report-intro-ransomware-scams-darknet-markets https://blog.chainalysis.com/reports/2021-crypto-crime-repor... Ciphertrace: https://ciphertrace.com/2020-year-end-cryptocurrency-crime-and-anti-money-laundering-report/ https://ciphertrace.com/2020-year-end-cryptocurrency-crime-a... Elliptic: https://www.elliptic.co/blog/cryptocurrency-money-laundering-risks-and-how-to-avoid-them https://www.elliptic.co/blog/cryptocurrency-money-laundering...
  - DSMan195276 5y ago
    It's perhaps worth pointing out that they have 2020 at 1% right now, but they also mentioned how they raised 2019 from 1.1% to 2.1% due to new discoveries (your first source mentions this). I question how effectively we can really quantify this if the number can double a year after being reported, at the very least it's hard to say how accurate the initial numbers are. It's probably more accurate to say 1% is a lower bound for 2020, but a lower bound is obviously not that useful. Perhaps it would be better to try and gather the amount of crypto use that is definitely legitimate, since that would at least give a theoretical upper-bound. Give the assumption that it's such a larger group that may just be too much to work through.

CircleSpokes 5y ago

I think the part about how 40% of transactions SUEX is involved in are "associated with illicit actors" makes this not collective punishment.

judge2020 5y ago
North Korea's trade wouldn't be entirely comprised of weapons either.