Sanctions remain dominant at 33% of illicit crypto flows in 2024, analysts say

Sanctions remain the best category of illegal crypto at 33% of illegal volume, while overall blockchain transactions increased to $ 10.6 billions in 2024.

Cryptographic transactions jumped from 56% in 2024 to $ 10.6 billions of dollars, while illegal activity dropped from 24% to $ 45 billion, now at only 0.4% of the total volume, compared to 0.9 % in 2023, reports Trm Labs.

In a February 18 blogThe Blockchain Legal Company said sanctions-The linked transactions constituted the largest share of illicit cryptographic activity, representing 33% of the total. Localized list funds followed 29%, with scams and 24%fraud.

Analysts expect illicit volume figures over time as more data is analyzed. At the beginning of 2024, the company estimated illicit transactions for 2023 to 34.8 billion dollars. However, this number has now been revised up to $ 58.7 billion, an increase of 69%. Likewise, the estimate of 2022 increased from $ 49.6 billion to $ 56.6 billion.

By way of comparison, another blockchain analysis analysis company analysis reported In January, this volume of illegal crypto in 2024 reached nearly $ 41 billion. However, the company noted that the figure could increase by an additional $ 10 billion as the more shady addresses are discovered.

“We consider our estimate as the minimum, or” floor “, for the volume of the illicit cryptocurrency, and we expect the figures to increase over time with a delay in allocation and reports.”

TRM laboratories

Tron There remains the superior blockchain in terms of illicit transactions in 2024 to 58%, according to analysts, adding that the network is followed by Ethereum (24%) and Bitcoin (12%). Although it may seem that bad players are using more and more tron ​​which allegedly because of its low costs, the network has also seen the greatest drop in illicit activity, with a drop of $ 6 billion.

Like crypto.News reported Earlier, the Spanish authorities and the T3 financial crime unit froze more than $ 26 million in crypto linked to a silver laundering ring operating across Europe. The repression was made possible by the T3 FCU – a team supported by Tron, Tether and Trm Labs – who worked with Guardia Civil of Spain to find the cryptographic addresses linked to the group. Officials say that the organization has moved millions, converting money into crypto for illegal use.

This operation has marked the biggest freezing of T3 FCU assets since its launch in 2024. So far, the team has helped the authorities to grasp more than $ 126 million in illegal crypto on five continents. The CEO of Tether, Paolo Ardodino, described the effort to “testify the power of the blockchain” in the fight against crime, adding that “those who try to badly use the attachment will be taken”.