Criminal playground?

CEO of Poder Wealth Advisors and host of the Financial Powerhouse Podcast, Anna N’Jie-Konte is a globally recognized financial planner who specializes in helping women achieve financial independence. In partnership with CoinShares, she debunks four common myths about Bitcoin. Forth one: Bitcoin is for criminal.

Although Bitcoin has been used in illicit transactions, the scale is minimal relative to its total network activity and smaller than that of traditional financial systems. A 2025 Chainalysis report found illicit Bitcoin transactions made up just 0.24%1 of all crypto transaction volume in 2022. Bitcoin’s blockchain records every transaction on a public ledger, making it traceable and often easier to investigate than cash.

Law enforcement agencies have successfully used blockchain analysis to dismantle criminal networks. Interestingly, stablecoins, not Bitcoin, are disproportionately involved in illicit activity, representing only 0.14% of on-chain activity yet accounting for 63% of illicit transactions. Like cash, shell companies, or real estate, Bitcoin can be misused, but its transparency offers unique advantages for compliance and enforcement. 

Anna addresses this frequent concern and tells us that the reality, she explains, is far more nuanced. 

Key Takeaways

• Transparency advantage: Bitcoin transactions are publicly recorded and auditable, making illicit activity easier to track.

• Minimal criminal use: only 0.24% of crypto transactions in 2022 were linked to illicit activity (Chainalysis).¹

• Comparative risk: stablecoins, not Bitcoin, dominate illicit transaction volume.

• Law enforcement tool: Blockchain analysis has helped uncover criminal networks.

• Balanced view: like any financial tool, Bitcoin can be misused, but its transparent nature often aids compliance and investigation.

¹Source: Chanalysis, Blockchain Analytics Firm, data available as of close 14 April 2025