Cryptocurrency crime may be evolving, but the share of illicit such transactions remains strikingly small.
According to TRM Labs’ latest annual report on crypto crime, just 0.4% of all digital asset transaction volume in 2024 was linked to unlawful activity, marking a 51% drop from the previous year despite a surge in the overall market.
Illicit Crypto Activity Plummets Even as Total Volume Soars
According to the blockchain intelligence firm, the total transaction volume in the crypto sector increased by 56% last year, surpassing $10.6 trillion. However, estimated illegal flows fell sharply to around $45 billion, down from nearly $59 billion in 2023.
The report indicated that crypto crime was mainly dominated by sanction evaders, scammers, and funds linked to blocklisted addresses. Collectively, these categories represented over 85% of the illicit volume identified by TRM.
Additionally, networks like Tron, Ethereum, and Bitcoin remained the top venues for such activity. Interestingly
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