{"id":36321,"date":"2025-01-16T09:42:53","date_gmt":"2025-01-16T09:42:53","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=36321"},"modified":"2025-01-16T09:42:53","modified_gmt":"2025-01-16T09:42:53","slug":"illicit-crypto-use-hits-51-billion-in-2024-but-shrinks-to-three-year-low-in-market-share","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=36321","title":{"rendered":"Illicit Crypto Use Hits $51 Billion In 2024 But Shrinks To Three-Year Low In Market Share"},"content":{"rendered":"

Illicit cryptocurrency transactions surged to an estimated $51 billion in 2024, according to blockchain analytics firm Chainalysis<\/a>. Despite this sharp rise in volume, <\/span>illicit crypto activities<\/span> accounted for only 0.14% of the total market, marking the lowest share in three years. <\/span><\/p>\n

In comparison, illicit crypto activities accounted for 0.61% in 2023, approaching the 2021 low of 0.12%. Chainalysis emphasized that the 2024 figure is a conservative estimate, as ongoing investigations will likely uncover additional illicit addresses and activity. <\/span><\/p>\n

\u201c2024 was likely a record year for inflows to illicit actors,\u201d the firm stated in a January 15 blog post, noting that historical trends suggest these numbers will increase as more data becomes available.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>9 Best High-Risk High-Reward Crypto Coins to Buy in 2025<\/span><\/a><\/strong><\/p>\n

ETFs And Trump\u2019s Election Spark Renewed Optimism<\/span><\/h2>\n

The broader crypto market experienced a revival in 2024, bolstered by favorable developments such as U.S. exchange-traded funds and renewed enthusiasm following Donald Trump\u2019s election. The market\u2019s total value <\/span>reached a peak of<\/span> $3.9 trillion in December, contributing to the increased use of digital assets.<\/span><\/p>\n

Transnational organized crime groups were among the largest beneficiaries of illicit crypto activity, using digital currencies for traditional crimes such as money laundering and trafficking of drugs, humans, and wildlife. <\/span><\/p>\n

Of the $40.9 billion in illicit crypto volume identified in 2023, $11 billion went to wallets tied to hacking, scams, extortion, and trafficking, Chainalysis revealed.<\/span><\/p>\n

The Introduction to the 2025 Chainalysis Crypto Crime Report is here! Check out our blog to learn the latest about the on-chain illicit ecosystem\u2019s increasing professionalization, featuring a broadening array of illicit actor organizations. https:\/\/t.co\/ejjlwHEUm1<\/a><\/p>\n

\u2014 Chainalysis (@chainalysis) January 15, 2025<\/a><\/p>\n\n

Stablecoins remained the preferred medium for moving illicit funds, comprising nearly two-thirds of such transactions. However, Chainalysis noted that stablecoins dominate the broader crypto market as well, representing approximately 77% of total transaction volumes.<\/span><\/p>\n

While the decline in the share of illicit transactions is encouraging, Chainalysis cautioned that these rates could increase as new data emerges. <\/span><\/p>\n

Historically, the proportion of illicit crypto use has consistently remained below 1%, highlighting ongoing challenges in combating financial crime within the sector.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>9 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n

Web3 Workers Targeted By Malware Campaign<\/span><\/h2>\n

Last month, cybersecurity firm Cado Security Labs warned that Web3 professionals have become the latest victims of a sophisticated malware campaign that employs fake meeting apps to steal sensitive credentials and crypto assets.<\/span><\/p>\n

In a report, Cado\u2019s threat research lead, Tara Gould, detailed that scammers\u00a0are leveraging\u00a0artificial intelligence (AI) to craft convincing websites and social media profiles that mimic legitimate companies.<\/span><\/p>\n

The malicious app, initially called \u201cMeeten,\u201d has undergone several rebrands. It now operates as \u201cMeetio\u201d and previously used domains such as Clusee.com, Cuesee, Meeten.gg, and Meetone.gg.<\/span><\/p>\n

Once downloaded, the app deploys a Realst information stealer\u00a0to extract sensitive data, including Telegram logins, banking information, and cryptocurrency wallet credentials.<\/span><\/p>\n

Similar schemes have surfaced recently. In August, on-chain investigator ZackXBT identified 21 developers, likely linked to North Korea, using fake identities to infiltrate crypto projects.<\/span><\/p>\n

Additionally, in September, the FBI warned of North Korean hackers targeting crypto firms and decentralized finance (DeFi) projects with malware disguised as job offers.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>$300 Million Exploit: Japan\u2019s DMM Bitcoin Exchange Suffers Largest Hack Of 2024<\/span><\/a><\/strong><\/p>\n

The post Illicit Crypto Use Hits $51 Billion In 2024 But Shrinks To Three-Year Low In Market Share<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Illicit cryptocurrency transactions surged to an estimated $51 billion in 2024, according to blockchain analytics firm Chainalysis. Despite this sharp rise in volume, illicit crypto activities accounted for only 0.14% of the total market, marking the lowest share in three years. In comparison, illicit crypto activities accounted for 0.61% in 2023, approaching the 2021 low […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-36321","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/36321"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36321"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/36321\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}