Use of cryptocurrencies for unlawful and dishonest business associations that result in money laundering, phishing scams, extortion etc. can result in value depreciation, as customer perception decreases. However, the decentralised nature of cryptocurrencies and ambiguity offered to consumers, is also established as a method to support such illicit transactions. Therefore, instances of cybercrime will be analysed and subsequent impact on the value of cryptocurrencies will be determined. This will be useful in further understanding the effects of stability of the currency, as buying or selling decreases.

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