TRM Labs： Illegal transactions on the blockchain will decrease by 24% to $45 billion in 2024, accounting for 0.4% of the overall cryptocurrency trading volume

According to The Block, blockchain intelligence firm TRM Labs has found that illegal transactions on the cryptocurrency chain will decrease by 24% to $45 billion in 2024, accounting for only 0.4% of the overall cryptocurrency transaction volume. Despite a 56% increase in total transaction volume last year, reaching $10.6 trillion, the efforts of law enforcement agencies and industry cooperation have effectively curbed illegal activities. The illegal trading of TRON has significantly decreased, with a reduction of $6 billion in illegal trading volume, almost halving the proportion, thanks to its T3 financial crime unit established in collaboration with Tether and TRM Labs. However, TRON remains the main blockchain for illegal activities, accounting for 58% of the total illegal transaction volume, attracting criminals with low transaction fees and popular stablecoins. The report also shows that sanctions violations account for one-third of illegal transactions, fraud and deception account for a quarter, with fraud related fund inflows decreasing by 40% compared to last year. Meanwhile, there has been an increase in ransomware attacks and terrorist financing, particularly those carried out by North Korean and Russian hackers.