The ban remains 33% of illegal illegal crypto category in illegal quantity, as the overall blockchain transactions increased to $ 10.6 trillion in 2024.
Crypto transactions increased by 56% to $ 10.6 trillion in 2024, while illegal activity fell 24% to $ 45 billion, now only 0.4% of the total volume, below 0.9% in 2023, TRM labs report.
In February 1 blog postThe blockchain forensic firm stated that the transactions associated with restrictions made the largest part of illegal crypto activity, accounting for 33% of the total. After 29%of the blocked funds, at 24%with scam and fraud.
Analysts expect illegal volume figures grow over time as more data is analyzed. In early 2024, the firm estimated illegal transactions for 2023. However, that number is now revised up to $ 58.7 billion, an increase of 69%. Similarly, 2022 estimates increased from $ 49.6 billion to $ 56.6 billion.
For comparison, another blockchain analytics firm Channelis reported in January that in 2024, about $ 41 billion was killed in illegal crypto volume. However, the firm stated that the figure could increase by another $ 10 billion because more shady addresses are exposed.
“We consider our estimate to be minimal, or ‘floor’ for the amount of illegal cryptocurrency, and expect the figures of growing over time with delayed atribution and reporting.”
TRM labs
TRON remains a top blockchain in the case of illegal transactions in 2024 at 58%, analysts say that there is a network after the network after the network. Although it may seem that bad actors are allegedly using tron due to their small fees, the network saw the biggest decline in illegal activity with a decline of $ 6 billion.
As Crypto.news had previously reported, the Spanish authorities and the T3 Financial Crime Unit fiercely operated in Europe associated with the Money Laundering Ring of more than $ 26 million in Crypto. Crackdown was made possible by T3 FCU – a team supported by Tron, Tether, and TRM Labs – who worked to track the crupto address tied to the group with Spain’s Guardia Civil. Officials say the organization transferred millions of people, which converts cash to crypto for illegal use.
The operation has identified the T3 FCU’s biggest assets freeze since launched in 2024. So far, the team has helped the authorities seize more than $ 126 million in illegal crypto in five continents. Tedhar CEO Paolo Erdoino called the attempt to fight the crime as “a will for the strength of the blockchain”, saying that “those who try to misuse Tithar will be caught.”
