A recent Bitrace report indicates that criminal activities in the crypto space are significantly focused on Ethereum and TRON networks. In 2024, approximately $649 billion in stablecoins were received by addresses associated with illegal entities.
While high-risk transactions decreased to 5.14% of total stablecoin transactions, this level remains considerably higher than in 2021 and 2022. Online gambling platforms processed $217.8 billion in 2024, marking a 17.5% increase from the previous year.
Key Trends in Crypto Crime
Fraud-related activities saw stablecoin inflows surge to $52.5 billion in 2024, surpassing total inflows from previous years combined. Addresses linked to money laundering received $86.3 billion in stablecoins in 2024.
Escrow services like Huione Guarantee experienced transaction volumes soaring to $2.64 billion by Q4 2024. Due to illicit activities, Tether and Circle froze over $1.3 billion worth of stablecoins.