Home Crypto Stablecoins Allowed $40 bn In Criminal Activities

Crypto Stablecoins Allowed $40 bn In Criminal Activities

Share
Share

Crypto Stablecoins Allowed $40 bn In Criminal Activities

Cryptocurrency tracing firm Chainalysis has revealed that stablecoins were implicated in 70% of crypto scam transactions in 2023, 83% of crypto payments to sanctioned nations like Iran and Russia, and 84% to specifically sanctioned individuals and entities.

This figure surpasses the overall growth in stablecoin usage, constituting 59% of all cryptocurrency transaction volume in 2023 for legitimate purposes.

Chainalysis identified $40 billion in illicit stablecoin transactions during 2022 and 2023 combined, with sanctions evasion accounting for over half of the $24.2 billion in criminal transactions observed across all cryptocurrencies in 2023.

Share

Latest News

News
Coinhub Opens Crypto Branches In Las Vegas & Phoenix | 3verseTV

Coinhub Opens Crypto Branches In Las Vegas & Phoenix

Coinhub Exchange has launched new branch locations in Las Vegas, Nevada, and Phoenix, Arizona, aiming to combine digital crypto trading with in-person...

News
India’s Income Tax Department Flags Crypto Risks | 3verseTV

India Raises Crypto Risk Concerns, Income Tax Department Opposes Entry

“With 30% tax and TDS tight, India put crypto trades in regulatory sight.” Did India’s 30% crypto tax and 1% TDS trigger...

News

Zcash Faces Leadership Vacuum After Full Developer Resignation on Jan. 7

“Governance must align, or confidence declines, Zcash learns in real time.” How does a top-20 cryptocurrency with a $7 billion market cap...

News
Polymarket Introduces Fees On 15-minute Crypto Markets | 3verseTV

Polymarket Introduces Fees On 15-minute Crypto Markets

Polymarket has added trading fees to its 15-minute crypto markets, introducing taker-only charges on a subset of high-frequency prediction products. The affected...

Latest Blogs

Bitcoin Price Prediction 2025, 2026-2030: Can BTC Rally to $200K?

Will Bitcoin Reach $200k in the Future? Expert Bitcoin Price Predictions for 2025 and beyond The future direction of Bitcoin from 2025...

AI-Powered Crypto Trading Bots: The Hype, The Reality, & What Every Trader Must Know

Artificial Intelligence is transforming industries, and crypto trading is one of those affected by automation. AI-powered crypto trading bots promise emotionless execution...

Daily Trends in Web3, Crypto, AI & Blockchain

Introduction: Daily Trends in Web3 and Blockchain Technologies Web3 and blockchain technology enable users to control their data through digital standards which...

Meet the Bitcoin Founders: The Real People Behind the World’s First Cryptocurrency

Mystery of Bitcoin’s Founders The Bitcoin creator mystery has persisted for more than fifteen years because it combines technological elements with economic...

Related Articles

Bitcoin Price Prediction 2025, 2026-2030: Can BTC Rally to $200K?

Will Bitcoin Reach $200k in the Future? Expert Bitcoin Price Predictions for...

AI-Powered Crypto Trading Bots: The Hype, The Reality, & What Every Trader Must Know

Artificial Intelligence is transforming industries, and crypto trading is one of those...

Daily Trends in Web3, Crypto, AI & Blockchain

Introduction: Daily Trends in Web3 and Blockchain Technologies Web3 and blockchain technology...

Meet the Bitcoin Founders: The Real People Behind the World’s First Cryptocurrency

Mystery of Bitcoin’s Founders The Bitcoin creator mystery has persisted for more...