The recent report from TRM Labs highlights a decrease in the share of illegal transactions in the cryptocurrency sector. Despite the growth in total volume, the level of crime has reached a record low.
General Data on Cryptocurrency Crime
According to TRM Labs’ latest annual report, just 0.4% of all digital asset transaction volume in 2024 was linked to unlawful activity. This marks a 51% drop from the previous year, despite a surge in the overall market.
Main Sources of Criminal Activity
The report indicates that illegal activity in the crypto sector is primarily dominated by sanction evaders, scammers, and funds linked to blacklisted addresses. These categories collectively represented over 85% of the illicit volume identified.
Emerging Threats in Cyber Crime
However, TRM raised alarms about emerging threats, particularly concerning terrorism financing through cryptocurrency, an uptick in hacks, and the use of AI by criminals to create highly personalized scam schemes.
A significant takeaway from the report is that despite the overall decline in cryptocurrency-related crime, new technologies and methods may lead to the emergence of new threats.
