The London-based Blockchain analysis company Elliptic, according to XRP can be Token at a value of about 400 million dollars of illegal transactions in connection brought.
Ripple uses its connected charitable Foundation as a corporate and Executive tax residence, the cryptographic research company Messari. Previously, the London-based Blockchain has been found by analysis firm Elliptic, that XRP can be Token at a value of about 400 million dollars in illegal transactions in connection brought.
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Messari speaks of different problems with Ripple
In addition to the use of the Foundation as a tax accommodation Ripples assigns a non-profit Association no grants to charitable organizations. In addition, the fact is concealed that 2.2 billion XRP tokens were added to the circulating supply, are now tied up in long-term, limited sale agreements. The results were published by Messari-author Ryan Selkis.
According to the form 990 of the Foundation for the 2018 fiscal year, which ended in April last year, granted the “Ripple Foundation for Financial Innovation”, which is associated with the company and his co-founder Chris Larsen, charities 0 $, despite a 1.2 billion $ of assets under management.
Meanwhile, the Ripple Foundation paid 665.000 Dollar salary to their CEO and invested $ 30 million into the Digital-Asset-Management-company Arrington XRP Capital, which is headed by Michael Arrington – a friend of Ripple-CEO, Brad garlinghouse.
400 million $ of XRP in connection with illegal activities
Yesterday, Elliptic, presented a transaction monitoring system for XRP, the Token of Ripple that is used for its global payment network. So far, the System has identified approximately $ 400 million XRP that are tied to illegal transactions. Nevertheless, the illegal Transfers account for less than 0.2% of all the XRP transactions.
For comparison: The UN office for drugs and crime estimates that annually about 2 trillion dollars are generated in revenue from illegal activities. Ripple has been released in 2014, so we can say that since then, about 10 trillion dollars derived from illegal activities.
This is a gigantic amount, considering that the entire USD-bid on the basis of the broader M2 measure is just over 15 trillion dollars.
Elliptic co-founder Tom Robinson, chief scientist of the company, says: A previous study had shown that Bitcoin-shopping on the Dark Web is about 0.5% of all BTC-account transactions.
Robinson, in this regard, to Reuters:
“We have a Team in London, the Dark Web after each use of crypto-currency searches. They started to do the same for XRP. The nature of the activities, they found, were in the first line scams, such as Ponzi fraud, thefts. A smaller category, the sale of credit card data is.“
XRP is the third largest crypto currency by market capitalization, after Bitcoin and Ethereum. The capitalization is according to Coinmarketcap data, almost 11 billion US dollars.
Overall, crypto-scams and thefts could reach to the end of the year, 4.3 billion dollars, so the Blockchain-forensics company cipher trace in a report three months ago.