-->A recent report found that Tether is the most popular crypto stablecoin used for criminal activity. Bloomberg’s report named Tether the most used stablecoin for alleged illegal activities in 2023. However, this comes in the context of declining criminal activity within crypto.

What does this mean for the future of crypto? Although overall criminal activity within crypto is declining, it remains a major problem. The alleged illegal transactions mainly took place on the TRON blockchain.

Tether Is Most Popular Crypto For Criminal Activity

Blockchain analytics company TRM Labs recently released a report highlighting the state of criminal activity on the blockchain in 2023. This report indicates that total illicit financial flows in the crypto sector have fallen by 9% compared to 2022. Yet almost $35 billion worth of crypto remains in the hands of criminals.

The decline can be attributed to stricter supervision of cryptocurrency, mainly in the United States. According to TRM Labs, 45% of all criminal activity took place on the TRON blockchain in 2023. Tether ($USDT) had the largest volume at $19.3 billion, followed by Ethereum with 24% and Bitcoin with 18%.

tron course decentralization

The TRON blockchain is ideal for criminal activity due to its high transaction speeds and low costs. There was a 125% increase in terror-related transactions on the blockchain.

The report also looked at the sale of illegal drugs on darknet marketplaces. These sales grew from $1.3 billion in 2022 to $1.6 billion in 2023. Although the volume of fentanyl and its precursor materials decreased by 150%, sales increased by more than 97% year-over-year from $16 million to $33 million.

What Does This Mean for the Future of Crypto?

It is of course worrying that the volume of criminal activity is still high. Still, a decline of 9% is a step in the right direction.

The tougher approach seems to mainly have an effect on hackers linked to North Korea. These hackers earned 50% less than last year, from $3.7 billion to $1.8 billion.

A third of total criminal activity on crypto involves scams and fraud. Because there is no legislation yet regarding starting your own cryptocurrency, almost anyone can set up a pump-and-dump scam. Investors must protect themselves against this by thoroughly researching the fundamentals of the cryptocurrency and the development team behind it.

Although Tether is currently the most popular crypto for criminal activity, the company hopes that its high transparency and traceability will discourage criminals from using the stablecoin.

Stablecoin issuers also have the right to freeze transactions and wallets if they are used for illegal activities. Tether recently took this action with addresses linked to terrorism and the conflicts in Israel and Ukraine.

All in all, regulatory developments will need to be closely monitored. Until then, investors can avoid falling victim to fraud or crypto scams by conducting thorough research before investing in crypto coins.

Crypto Alternatives with a Future

Are you looking for the best crypto to buy now? In the section below we will discuss two promising crypto projects that have the potential to rise significantly in the short term. Read on for more information.

Bitcoin Minetrix – Mine Bitcoin Via Staking

Bitcoin Minetrix ($BTCMTX) is developing a brand new way to mine Bitcoins. Through its innovative Stake-2-Mine concept, you only need to stake $BTCMTX tokens. With this you receive mining credits, which are then exchanged for hashing power to mine Bitcoin.

This new way of mining allows private individuals to avoid the risks associated with classic Bitcoin mining. For example, you normally have to purchase expensive equipment and have a lot of technical knowledge. With Bitcoin Minetrix this is all bypassed and you only have to stake $BTCMTX tokens.

Bitcoin minetrixBitcoin minetrix

In the past, risks were also associated with cloud mining. Bitcoin Minetrix addresses these risks by fully tokenizing the project. Users are not dependent on the cloud mining company, because the smart contracts within the tokens automatically distribute the Bitcoins to the stakers. Bitcoin mining on this project is therefore very safe and reliable.

The project is currently still in the presale phase, where users can purchase $BTCMTX tokens for just $0.0143 each. The project has already raised nearly $13 million. Therefore, buy tokens quickly before the price rises further.

Slothana – The Latest Solana Meme Coin

Countless new crypto coins are launched every year. Yet only a few of these are successful. Slothana ($SLOTH) is positioning itself as a project that is guaranteed to be successful, possibly one of the best crypto coins of 2024.

This success is mainly due to the way users receive tokens. Unlike the usual presale or DEX launch, Slothana uses a send-to-wallet airdrop system. Getting tokens has never been easier.

Slothana meme cornerSlothana meme corner

Currently, users can get around 10,000 $SLOTH tokens by sending 1 SOL to the wallet address. The project has already raised a total of $1.1 million. Take advantage of this crypto airdrop today.

Once you have sent SOL tokens to the wallet address, you only have to wait for the airdrop to take place. You will then automatically receive the $SLOTH tokens in your wallet. Now guarantee to receive 10,000 $SLOTH by quickly sending $SOL to the indicated address and take advantage of this new Solana meme coin.

Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.

Source: https://bitcoinmagazine.nl/nieuws/rapport-onthult-usdt-populairste-crypto-voor-criminele-activiteit-hoe-ziet-toekomst-crypto-eruit

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