Recent reports by TRM Labs and other entities have highlighted a concerning trend within the cryptocurrency market, particularly focusing on the role of Tether in illicit financial activities. According to the findings, illicit funds in the cryptocurrency sector decreased by 9% in 2023, amounting to $34.8 billion. Despite this overall decrease, Tether has been identified as the most used stablecoin for criminal activities, with about 1.6% of its volume linked to illicit transactions. Furthermore, a staggering $19.3 billion in Tether was identified as being involved in terrorism financing, marking a significant concern for regulators and investors alike. These revelations underscore the challenges facing the cryptocurrency industry in combating illegal financial flows while striving for mainstream acceptance.
Tether and Tron continue to dominate criminal financing as overall illicit funding decreases, according to new TRM Labs Report. https://t.co/dNvnSSju6n
Our Illicit Crypto Economy Report covers eight key trends we're tracking from 2023, including a drop in overall illicit volume year-on-year. Get your copy here: https://t.co/zAVIymATB5.
Tether and Tron continue to dominate criminal financing as overall illicit funding decreases, according to new TRM Labs Report. https://t.co/VHtdyWs7gn
Tether is dominating! In terrorism financing! 19.3 billion Tethers have been identified as illicit financing enabled by the Tether fraud. Congratulations Paolo! Now on top of being the largest accounting fraud in history, you’re the largest financier of terrorism! Should… https://t.co/3uVJvDIxDt
❖ Tether Is the Most Used Stablecoin in Illicit Crypto Flows, TRM Says ❖ About 1.6% of Tether volume linked to illicit activity in 2023 Tether was the most used stablecoin for criminal activity in crypto last year, a period when the overall volume of illicit transactions in…
Tether was the most used stablecoin for criminal activity in crypto last year, according to a TRM Labs report. https://t.co/mbTL9F4isA
Dive deep into technological and market reasons behind an impressive DEX aggregator’s growth in the new Cointelegraph Research report! Find it here: https://t.co/jgpiCJf8wO 👈 https://t.co/HNW7qMRjgZ
A @trmlabs report has found that illicit funds in crypto shrank 9% in 2023, but criminals still handled $34.8 billion worth of cryptocurrencies. By @amitoj. https://t.co/kbhrSLPcm5