TRM Labs: Illegal transaction volume on the chain will drop 24% to $45 billion in 2024, and TRON will still be the main blockchain for illegal activi

blockchain intelligence company TRM Labs found that the volume of illegal transactions on cryptocurrency chains decreased by 24% in 2024, dropping to $45 billion, accounting for only 0.4% of the total cryptocurrency transaction volume. Despite a 56% increase in total transaction volume last year, efforts by law enforcement agencies and industry cooperation effectively curbed illegal activities. Illegal transactions on TRON decreased significantly, with a reduction of $6 billion in illegal transaction volume, nearly halving the proportion, thanks to its collaboration with Tether and TRM Labs to establish the T3 financial crime unit. However, TRON is still 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 transaction volume, while fraud and scams account for one-fourth, with funds related to fraud decreasing by 40% compared to last year. Meanwhile, ransomware attacks and terrorism financing have increased, particularly attacks carried out by North Korean and Russian hackers.