Blockchain forensics firm Chainalysis has found that crypto traders in Africa are less likely to have sent tokens to, or received tokens from, known scam addresses than traders in other regions in the past year.
In the Chainalysis “2020 Geography of Cryptocurrency Report”, the firm states that the percentage of illicit cryptocurrency activity associated with scams isn’t as high in Africa as other regions around the world. Illicit cryptocurrency activity accounted for just 2% of the region’s roughly $16 billion trading volume from July 2019 to June 2020. Scams accounted for 55% of this low level of illicit activity.
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