Analysts at TRM Labs reported that TRON hosted 45% of all illicit volume in 2023, highlighting the prevalence of illicit transactions on the blockchain network. TRON, founded by entrepreneur Justin Sun, has become a hub for such activities. The data also revealed that Tether (USDT) was the stablecoin most commonly used for illicit transactions, with over $19 billion worth of illicit funds involved. TRM Labs also pointed out an increase in the number of unique TRON addresses receiving Tether, particularly among terror financing campaigns. The report noted that TRON appeared to be favored by hackers associated with North Korea, who convert stolen funds to USDT on the network. Despite this trend, TRM Labs observed a decline in hacked and sanctions-exposed funds, crediting government and law enforcement efforts for the decrease. Tether has emphasized its commitment to AML regulations and implemented KYC procedures to combat global terrorism, with collaborations with various U.S. government agencies to address illicit fund transfers.