2024 Crypto Crime Surge: Stablecoins Take Center Stage, Says Chainalysis

In 2024, illicit cryptocurrency activity surged, with $40.9 billion directed to wallets linked to criminal activities. According to Chainalysis. Stablecoins, due to their global liquidity, have become a cornerstone of these operations, accounting for 63% of illicit crypto transactions.

The report highlights an increase in sophisticated laundering schemes, cybercrime (with North Korean hackers responsible for $1.34 billion in theft), and AI-driven scams. While enforcement efforts, such as freezing funds linked to criminal activity, have been implemented, the growing complexity of crypto crime presents ongoing challenges. Despite a decrease in illicit transaction percentages, Chainalysis expects these figures to rise as investigative tools improve.

Clever Robot News Desk 17^th January 2025