{"id":20366,"date":"2025-01-16T10:45:15","date_gmt":"2025-01-16T08:45:15","guid":{"rendered":"https:\/\/forklog.com\/en\/illicit-crypto-activity-totaled-40-9-billion-in-2024\/"},"modified":"2025-01-16T10:45:15","modified_gmt":"2025-01-16T08:45:15","slug":"illicit-crypto-activity-totaled-40-9-billion-in-2024","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/illicit-crypto-activity-totaled-40-9-billion-in-2024\/","title":{"rendered":"Illicit crypto activity totaled $40.9 billion in 2024"},"content":{"rendered":"<p>In 2024, the total volume of illicit cryptocurrency transactions reached $40.9 billion, with 63% conducted in stablecoins, according to Chainalysis analysts.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">?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. <a href=\"https:\/\/t.co\/ejjlwHEUm1\">https:\/\/t.co\/ejjlwHEUm1<\/a><\/p>\n<p>\u2014 Chainalysis (@chainalysis) <a href=\"https:\/\/twitter.com\/chainalysis\/status\/1879515130364416053?ref_src=twsrc%5Etfw\">January 15, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>They forecast the final tally will climb to $51.3 billion for the year once subsequent revisions, historical activity and the identification of new illicit addresses are accounted for.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXf5NNASvqhu4S4tv1ftC8LmU7blLk8srHBx-fzAS4IqrF5JZVR0e38SUq3-1VSdAzdJEv-e9vFR6Co6PwPzzVZPqzaI6VRfwyQ_xHsrUAFN7Vw03VOWJFjn8EkNB9wJMkWaAdHu?key=YllOILFBeUkvUNRvVqopywnc\" alt=\"Crypto worth $40.9bn involved in illicit activity\"\/><figcaption class=\"wp-element-caption\">Source: Chainalysis.<\/figcaption><\/figure>\n<p>\u201cCriminal\u201d transactions accounted for 0.14% of total volume. Analysts attribute bad actors\u2019 tilt toward stablecoins to a 77% year-on-year rise in overall activity for that asset class. Even so, ransomware operators and darknet-market vendors continue to generate illicit revenue in bitcoin. Monero was not included in the Chainalysis report.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"666\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image-658-1024x666.png\" alt=\"image-658\" class=\"wp-image-249659\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/image-658-1024x666.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/image-658-300x195.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/image-658-768x499.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/image-658-1536x998.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/image-658.png 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: Chainalysis.<\/figcaption><\/figure>\n<p>Stolen funds rose by roughly 21% year on year to $2.2 billion. The largest share came from DeFi services, while centralized platforms were targeted in the second and third quarters of last year.<\/p>\n<p>Private-key compromise accounted for 43.8% of criminal revenue. North Korean hackers stole a record $1.34 billion last year.<\/p>\n<p>The most successful schemes were high-yield investment fraud and \u201cpig butchering.\u201d The use of artificial intelligence grew, for example in highly personalised sextortion attacks.<\/p>\n<p>Darknet marketplaces took in $2 billion, down from almost $2.3 billion in 2023, while revenues at scam shops more than halved to $220.1 million. Chainalysis partly attributed this decline to the <a href=\"https:\/\/forklog.com\/en\/news\/us-sanctions-target-bitcoin-exchange-pm2btc-and-cryptex-platform\">closure<\/a> of the large crypto payments processor UAPS.<\/p>\n<p>Analysts also highlighted the rise of organized criminal networks using cryptocurrency. In 2024, their addresses received $10.8 billion out of the $40.9 billion total. In this context they cited the Huione Guarantee online trading platform, which, including supplier activity, has processed more than $70 billion since 2021. <\/p>\n<p>In the summer of 2024, Chainalysis estimated that cryptocurrency laundered since 2019 totaled <a href=\"https:\/\/forklog.com\/en\/news\/chainalysis-estimates-100-billion-in-laundered-cryptocurrency\">$100 billion<\/a>.<\/p>\n<p>At the same time, by their calculations, illicit revenues from crypto scams and hacks <a href=\"https:\/\/forklog.com\/en\/news\/chainalysis-reports-decline-in-illicit-crypto-revenues-for-2023\">fell<\/a> by 29.2% and 54.3% in 2023, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2024, the total volume of illicit cryptocurrency transactions reached $40.9 billion, with 63% conducted in stablecoins, according to Chainalysis analysts. ?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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[274,44,1252,1246],"class_list":["post-20366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-chainalysis","tag-cybercrime","tag-reports","tag-scammers"],"aioseo_notices":[],"amp_enabled":true,"views":"117","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=20366"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/20366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/20365"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=20366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=20366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=20366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}