Chainalysis Challenges Binance's 0.02% Illicit Volume Claim Over Excluded Crime Categories

Chainalysis has rejected Binance's analysis claiming illicit trading volume at seven major crypto exchanges ranged between 0.018% and 0.023%. The blockchain analytics firm stated Binance conducted the analysis internally using select Chainalysis data while excluding key crime categories including ransomware and stolen funds. The dispute emerges as Binance continues managing consequences from its $4.3 billion U.S. penalty in 2023.