TRON ACCOUNTS FOR 45% OF ALL ILLICIT TRANSACTIONS

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ILLICIT ACTIVITY IN CRYPTO HAS OVERALL DECLINED, WITH LAWMAKERS AND LAW ENFORCEMENT CATCHING UP, BUT TRON BLOCKCHAIN IS ATTRACTING BAD ACTORS



A new report published by TRM Labs has indicated that the majority of illicit transactions happening in the crypto world are actually facilitated by Tron (TRX). In The Illicit Crypto Economy, TRM Labs takes a closer look at the most preferred cryptocurrency used by criminals who are keen to remain hidden from the public eye as they transact ill-gotten gains.

The popularity of the Tron blockchain amongst bad actors has been increasing at a good pace too as, according to the research, the 45% of illicit transactions detected in 2023 are actually a noticeable step up from the 41% recorded in 2022.

The network is often used by hackers who are mostly associated with North Korea, who use it to swap and move stolen funds, and rely on USDT’s tethering to the US dollar for stability, while also benefiting from its anonymity. All are facilitated through the Tron blockchain, the research indicates.

To put things in perspective, TRM Labs estimates that USDT accounts for $19 billion of illicit funds moved globally, along with another $428.9 million moved in USD Coin, another stablecoin. The role of the Tron blockchain is to help with these transactions and exchanges.