The cryptocurrency compliance firm found that $ 649 billion worth of stablecoins flowed into addresses classified as high risk in 2024, according to the April 29 report.
Bitter specified Blockchain addresses at high risk as used by illegal creatures to receive, move or store Stablecoins.
Crypto compliance companies generally scored crypto wallet addresses based on their possibility involved in illicit activities. The higher the risk, the higher the likelihood of playing the foul, and the more likely the following crypto businesses will accept the owners.
Each report, the value costs nearly 5.14% of all Stablecoin transaction quantities in 2024. It dropped 0.8% from 5.94% last year, but significantly higher than 2.8% reported in 2022 and 1.63% in 2021.
Related: Americans lost $ 9.3B in Crypto fraud in 2024 – FBI
Tron USDT is leading up in high -risk transactions
Tron-Based USDT (USDT) High-risk stablecoin transactions are dominated, with bitrace data indicating that more than 70% of the volume transferred to the network. The remaining high -risk transactions are usually based on Ethereum USDT and a small amount of USDC (USDC).
An explanation for USDT’s proliferation is likely due to greater capitalization and market adoption compared to other stablecoins. At the time of writing, CoinMarketCap shows that the USDT has a market cap of more than $ 148 billion, while the USDC stands at more than $ 62 billion.
Tron’s spread is not easy to explain. Ethereum remains a more popular choice for most stablecoin users, with Defillrama shows About $ 124.3 billion worth of stablecoins transferring the network. Second is the rank of tron, with about $ 71 billion – almost 43% less than Ethereum.
When comparing USDT balances only, the tron holds a little more than Ethereum: 47.4% of the USDT supply, compared to 45.44% of Ethereum.
Related: Tether stablecoin issuer and tron launch financial crime unit
Crypto gambling continues its increase
Bitrace also reported that in 2024, online gambling platforms processed $ 217.8 billion worth of stablecoins – an increase of 17.5% last year.
Again, the USDT also leads this type of activity. However, the USDC market sharing is rising rapidly, organizing 13.36% in 2024.
Data follows recent reports that crypto casinos formed more than $ 81 billion income in 2024Even regulators in major jurisdictions continue to hinder access to platforms, according to a new report.
Magazine: Funny ‘Chinese Mint’ Crypto Scam, Japan Dives into Stablecoins: Asia Express
