Illicit use of blockchains represents just 0.4% of total crypto volume, TRM Labs finds

Crypto-related crime is experiencing a notable decline globally, with the TRON blockchain leading the trend in reducing illicit activity, according to a preview of TRM Labs’ 2024 Crypto Crime Report.

Shifting Crime Dynamics on TRON

Despite a 56% surge in overall crypto transaction volume to $10.6 trillion last year, illicit on-chain volume has dropped 24% to $45 billion. This represents only 0.4% of total transactions, a decline attributed to aggressive law enforcement and industry collaboration.

T3 Financial Crime Unit Achievements

Asset Seizure: Approximately $130 million in USDT connected to crime has been frozen.
Monitoring Power: Over $3 billion in USDT transactions monitored since August.
Impact on TRON: Illicit volume dropped by $6 billion, with the proportion of such activity nearly halving.

Blockchain	Share of Total Illicit Volume	Primary Reason for Use
TRON	58%	Low fees, smart contracts, popular stablecoins
Ethereum	24%	Institutional liquidity & ecosystem size
Bitcoin	12%	Legacy value & pseudonymous transfers

While TRON remains the most-used chain for criminal activity due to its efficiency and low costs, the recent partnership between Tether, TRM Labs, and TRON’s founder Justin Sun is successfully disrupting criminal networks at an unprecedented scale.