What to know:
- Chainalysis, the oracle of crypto mischief, claims a staggering $40 billion worth of illicit transactions danced through the crypto realm in 2024, with whispers of it soaring to $51 billion as the crime scene unfolds.
- Once upon a time, in the year of our Lord 2021, criminals were all about that Bitcoin life. Fast forward to now, and stablecoins have taken the crown. Who knew crime could be so trendy? 😂
- Beware! The 2025 data might just be a little wonky, thanks to the $1.5 billion hack on Bybit. Ether might just crash the party uninvited!
Ah, 2024—a year of institutional adoption and yet, a veritable buffet of crypto crime! Chainalysis, the watchdog of the blockchain, reveals that a whopping $40 billion found its way to illicit addresses. Talk about a lucrative side hustle!
But wait, there’s more! This $40 billion is merely a teaser; expect the figure to balloon as 2025 rolls in and more skeletons tumble out of the crypto closet. Scams, malware, fraud, and dark net escapades—oh my!
Last year’s figure wrapped up at $46.1 billion, but hold onto your hats! Chainalysis predicts 2024’s total will outshine that, with a dazzling estimate of $51.3 billion. Who knew crime could be so profitable?
And let’s not forget the non-crypto crime scene—drug trafficking and money laundering are still in the game, using crypto as their payment method. The report didn’t forget to mention that little detail!
With the approval of spot bitcoin ETFs in 2024, institutional volume surged like a caffeinated squirrel. This has reduced the ratio of crypto crime volume to the overall industry volume, with illicit transactions now accounting for a mere 0.14% of all crypto transactions. A drop from 0.61% in 2023—progress, right? 🙄
Criminals are evolving! In 2021, a staggering 70% of illicit transactions were all about Bitcoin (BTC). Now, stablecoins have taken the lead, with BTC trailing behind at 20%. Who knew crime could be so… adaptable?
And let’s not overlook the privacy coin Monero (XMR), which is still a favorite in the dark net markets. Altcoins? They account for about 10% of all illicit transactions. Quite the diverse portfolio!
Lastly, keep your eyes peeled for 2025 figures, which may include ether (ETH) due to February’s jaw-dropping $1.5 billion hack on Bybit—the largest single crypto theft to date. What a time to be alive!
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2025-02-27 19:42