<\/p>\n
Illicit crypto addresses pocketed a staggering $40.9 billion worth of digital assets last year, and that number is likely to balloon even further, per a new report from the blockchain data firm Chainalysis.<\/p>\n
Chainalysis notes<\/a> in its annual Crypto Crime Report that 2024\u2019s total is currently less than the $46.1 billion worth of crypto that flowed into illicit addresses in 2023.<\/p>\n The firm also says, however, that 2024\u2019s total volume will likely exceed 2023\u2019s as additional illicit addresses are identified.<\/p>\n \u201cSince 2020, our annual estimates of illicit activity \u2014 which include both evidentiary attributions and Chainalysis Signals data \u2014 have grown by an average of 25% between annual reporting periods. Assuming a similar growth rate between now and next year\u2019s Crypto Crime Report, our annual totals for 2024 could surpass the $51 billion threshold.\u201d<\/em><\/p>\n The illicit total represented 0.14% of the total on-chain transaction volume last year.<\/p>\n Chainalysis notes that stablecoins represent 63% of all illicit transactions, while Bitcoin (BTC<\/a>) is the top choice of asset for ransomware and darknet market (DNM) sales. The privacy coin Monero (XMR<\/a>) has also become an \u201cincreasingly important\u201d part of DNM sales.<\/p>\n The firm says the online marketplace Huione Guarantee illustrates the \u201cprofessionalization\u201d of crypto\u2019s illicit ecosystem.<\/p>\n \u201cHuione and all vendors operating on their platform have processed more than $70 billion in crypto transactions since 2021. This platform has provided infrastructure which facilitates the sale of scam technology and processed on-chain transactions for pig butchering and other fraud and scams, addresses reported as stolen funds, sanctioned entities such as the Russian exchange Garantex, fraud shops, child sexual abuse material, and Chinese-language gambling sites and casinos, among others.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n
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\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n