📢 Crypto news: TRON accounts for 45% of illegal activities in 2023

🔍 According to a report by TRM Labs, the TRON blockchain network accounted for 45% of illegal activities in 2023, up from 41% in 2022. Ethereum and Bitcoin were behind at 24% and 18%.

🇰🇵 TRON has also become a favorite network of hackers associated with North Korea, who regularly exchange stolen money, mainly USDT, on this network. The cryptocurrency is then laundered through major OTC agents to convert it into traditional currency.

💵 USDT, stablecoin issued by Tether Inc. issued, has become the preferred currency for terrorist sponsoring organizations, accounting for more than $19 billion in illegal proceeds. Meanwhile, another stablecoin, USD Coin (USDC), only recorded 428.9 million USD.

📈 While other types of illicit financing decline, drug sales on darknet markets increase to $1.6 billion in 2023, up from $1.3 billion in 2022. TRM Labs said sales Drug sales using TRON increased fourfold during this period.

🔗 Cybercriminals seem to favor the TRON network because of its low gas fees, minimal price fluctuations, and the feeling (albeit outdated) that it is harder to trace transactions on this network.

📉 The total amount of illegal money in the cryptocurrency space decreased by 9% compared to the previous year, according to TRM Labs. However, the amount of illegal money in the crypto space is still decreasing, although still much higher than current industry estimates.

🚨 The report also indicates that the amount of funds hacked and funds exposed to sanctions has decreased, due to increased pressure from governments and law enforcement agencies globally.