Illicit Crypto Volume Reaches $40 Billion in 2024 According to Chainalysis
In 2024, crypto crime continued to rise despite increased institutional adoption, with a report from Chainalysis indicating that illicit addresses received an estimated $40 billion. This figure is expected to grow as more historical crime details emerge.
- 2023's total was $46.1 billion; 2024's estimate is $51.3 billion.
- Excludes revenue from non-crypto crimes like drug trafficking and money laundering.
- The approval of spot bitcoin ETFs led to increased institutional volume, reducing the illicit transaction ratio to 0.14% of all crypto transactions from 0.61% in 2023.
- Stablecoins now dominate illicit transactions at 63%, while bitcoin accounts for 20%.
- Privacy coin monero remains prevalent in dark net markets, making up 10% of illicit transactions.
- Upcoming 2025 figures may include significant losses from the $1.5 billion hack on Bybit.