Home Illicit Crypto Transactions Fall To $24.2 bn In 2023

Illicit Crypto Transactions Fall To $24.2 bn In 2023

Share
Share

Illicit Crypto Transactions Fall To $24.2 bn In 2023

In 2023, illicit crypto addresses received $24.2 billion, a decrease from the previous year’s $39.6 billion, according to Chainalysis, a blockchain analytics firm.

This indicates a shift in digital currency-related crime, with stablecoins becoming more prominent in these transactions. Bitcoin was once the dominant currency in illicit transactions, but stablecoins emerged as the primary medium.

Bitcoin remains the primary currency for specific illegal activities, such as darknet market sales and ransomware extortion. Since 2022, scams and transactions linked to sanctioned entities have increasingly used stablecoins, aligning with the broader adoption of stablecoins in legitimate crypto activities.

The decrease in illicit crypto transactions in 2023 suggests a positive trend towards more regulated and monitored digital currency use.

(With inputs from Shikha Singh)

Share

Latest News

Magic Eden Scales Back NFTs To Focus On Crypto Gambling
News

Magic Eden Scales Back NFTs To Focus On Crypto Gambling

Magic Eden, once one of the most popular NFT marketplaces, is winding down its Ethereum and Bitcoin NFT operations as it pivots...

February Crypto Losses Drop To Lowest Level Since March 2025
News

February Crypto Losses Drop To Lowest Level Since March 2025

According to blockchain security company PeckShield, losses from cryptocurrency-related thefts and scams totalled $26.5 million in February, the lowest monthly amount since...

JPMorgan Sees U.S. Crypto Bill As Major Catalyst For H2 2026
News

JPMorgan Sees U.S. Crypto Bill As Major Catalyst For H2 2026

Even though crypto market sentiment remains weak, analysts at JPMorgan believe a key U.S. crypto market structure bill could become a turning...

Trump Media Plans Truth Social Crypto IPO Amid Fusion Energy Push
News

Trump Media Plans Truth Social Crypto IPO Amid Fusion Energy Push

Trump Media & Technology Group is getting ready to make a significant change that might alter its goals for cryptocurrency. The business...

Latest Blogs

Spot Or Futures ETF: Which Bitcoin ETF Should You Choose?

You must have heard a lot about Spot Bitcoin ETFs lately but are you aware of Futures Bitcoin ETFs which were launched...

AI Memecoins, How Are You Different From Normal Memecoins?

  Watching fun memes and scrolling reels is what most of us do to unwind ourselves after our hectic work schedules, and...

Top Crypto ETFs To Watch In 2026: Funds That Are Leading The Market

Are you a January born? If yes, then you share your birth month with Spot Bitcoin Exchange Traded Funds(ETFs), which were also...

Crypto Market Timings: When Is The Best Time To Trade In India & Worldwide?

All those who trade, whether in stock markets or crypto, understand that timing is what makes or mars your fortunes in trading. However, even though...

Related Articles

Spot Or Futures ETF: Which Bitcoin ETF Should You Choose?

You must have heard a lot about Spot Bitcoin ETFs lately but...

AI Memecoins, How Are You Different From Normal Memecoins?

  Watching fun memes and scrolling reels is what most of us...

Top Crypto ETFs To Watch In 2026: Funds That Are Leading The Market

Are you a January born? If yes, then you share your birth...

Crypto Market Timings: When Is The Best Time To Trade In India & Worldwide?

All those who trade, whether in stock markets or crypto, understand that...