In 2024, the illegal crypto transaction is likely to cross the 2023 record, as the criminals published stabechoin to rob the stolen funds from bitcoin.
Blockchain insight provider channelsis Informed Last year, criminal transactions related to crypto are expected to exceed $ 40 billion, an estimated total of $ 51.3 billion as more data has been collected.
The report considered illegal activities such as crypto scam, digital asset fraud and ransomware attacks. On current estimates, the records analyzed in 2024 in 2024 are shy just $ 6.1 billion of the amount of criminal transactions.
Nevertheless, bad actors have changed the strategy, and institutional adoption has shrunk the ratio of illegal transactions relative to valid activity. Channelis mentioned that stablecoins have become a preferred way to move stolen crypto.
In 2021, Bitcoin (BTC) had a shocking 70% of criminal transactions. However, Stabelin now dominates, including 63% of illegal transactions, while only 20% of illegal funds are now looted through bitcoin networks.
Dark web vendors and users also moved to privacy coin monro (XMR), while 10% of illegal transactions include altcoins.
Meanwhile, an institutional adoption from Wall Street has increased the valid crypto volume. The launch of the Spot Exchange-Traded Fund based on bitcoin and atherium (ETH) has greatly increased legal trade activity.
This adoption wave has reduced illegal transactions by only 0.14% of the total crypto volume in 2024, compared to 0.61% in the previous year.
