Illicit Flows On Ethereum Hit Yearly High Last Week
In terms of illicit flows, Ethereum, the top proof-of-stake blockchain, had its worst week of the year last week.
According to Chainalysis data, known illicit flows on Ethereum as a percentage of all transfers hit about 2% for a few days last week. The metric fluctuated between 1.7% and 1.82% from July 30 to August 5, before returning to normal values on August 6.
Prior to last week, the highest recorded unlawful flow percentage was 1.46% of all network flows in January.
Although the cause of the rise is unknown, it corresponds with a high-profile Curve Finance, the decentralised exchange, exploit that alarmed DeFi last week.
(With inputs from Shikha Singh)
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