Fraudulent cryptocurrency transactions on TRON and Ethereum blockchains exceeded $ 649 billion

The volume of transactions in stablecoins related to illegal activities in the TRON and Ethereum networks ETH $1,813.49 Bridged Ether (StarkGate) 0.33% Market capitalization $0.16 billion VOL. 24 hours $0.86 billion exceeded $ 649 billion in 2024. These data are provided by the analytical company Bitrace in its annual report on cryptocurrency crime.

According to analysts, high-risk transactions accounted for more than 5% of the total volume of transactions in stablecoins. Although this share has slightly decreased compared to 2023, it remains significantly higher than in previous years. The online gambling sector was particularly active: transactions through related platforms reached $ 217.8 billion, which is 17.5% more than a year earlier.

Receipt of stablecoins in 2021−2024 to high-risk addresses. Source: Bitrace.

Pseudo-secure escrow services, which, according to experts, serve as a «means of trust» in organized criminal networks, remain one of the most prominent areas of illegal use of cryptocurrencies. For example, only one of these platforms, Huione Guarantee, has conducted transactions worth $ 2.64 billion.

Receipt of stablecoins in 2021−2024 to online gambling platforms. Source: Bitrace.

The volume of cryptocurrencies used for fraud has also increased to $ 52.5 billion. At the same time, money laundering schemes accounted for $ 86.4 billion, which is slightly less than in 2023. This may indicate a certain effect of increased regulatory control, in particular from exchanges such as OKX, which in 2025 paid fines worth hundreds of millions of dollars in the United States and Europe.

A positive trend was the increased cooperation of stablecoin issuers with law enforcement. In 2024, Tether and Circle froze more than $ 1.3 billion in assets related to suspicious transactions. At the same time, the anonymity of cryptocurrencies remains a challenge for the effective implementation of sanctions.

Analysts also noted Hong Kong as an example of effective regulation in the field of digital assets. Thanks to clear rules and investor protection, the region was able to reduce losses from financial crimes and increase confidence in the crypto market.