- CRYPTO illegal transactions could have reached up to $ 51 billion in 2024, according to Chainysis
- With the introduction of ETF, the proportion of the volume of crime to the industry fell significantly
- The criminals are moving away from BTC and in Stablecoins
The cryptocurrency addresses that are known for being associated with criminals received $ 40 billion in 2024, marking another very successful year for malefactors worldwide.
The annual chainysis report indicates that this is not a precise figure, already measured time, and new information about previous crimes arises, it will probably increase, possibly be closer to $ 51 billion.
Another important detail is that this estimate does not include the money of the native crime that is not encrypted, such as drug trafficking or money laundering.
Stablecoins
The 2023 figure stood at $ 46.1 billion, so if the chain chain estimates turn out to be true, it will be a significant increase: in unprocessed numbers, as a percentage, the figure has decreased significantly.
In 2023, the relationship between the volume of the crime to the volume of the industry was $ 0.61%, but with the approval of multiple ETF Spot in 2024, many large institutions and investors with large pockets moved to the industry, increasing the general volume and, therefore, reducing the ratio to only 0.14%.
Finally, cybercriminals seem to be moving away from Bitcoin and Stablecoins.
So far, every time a ransomware attack occurs (or a similar incident), most threat actors would demand payment in Bitcoin, although there are tens of thousands of different cryptocurrencies. That said, four years ago, about 70% of all criminal transactions were made in Bitcoin, falling to 20% last year. At the same time, Stablecoins moved (cryptocurrencies whose value is linked to the fiduciary currency and does not fluctuate violently as the standard cryptography does), now occupies around 63%.
Monero was used in 10% of cases, added the chain. Monero is a popular currency oriented to privacy, which is also extracted through the infamous cryptojker called XMRIG.
