Bitcoin

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According to analytics firm TRM Labs, the Tron blockchain is responsible for a whopping 45% of illegal cryptocurrency transactions in 2023,&nbsp; the South China Morning Post&nbsp;<a href="https://www.scmp.com/tech/blockchain/article/3257117/nearly-half-illicit-crypto-volume-happened-justin-suns-tron-last-year-report-says" rel="noopener noreferrer nofollow">reports</a>.&nbsp;
The blockchain, which is associated with controversial entrepreneur Justin Sun, is becoming increasingly popular with drug traffickers, but Bitcoin still maintains the lead there.&nbsp;
Tron has emerged as an increasingly attractive option for criminals due to its speed and low transaction fees.&nbsp;
The report states that Tether, the top stablecoin, accounted for more than $19 billion of illegal transactions. Roughly 1.6% of the stablecoin's total volume was linked to criminal activities.&nbsp;
The Tron-based USDT token, which was introduced back in March 2019, has now become the primary choice for terrorism financing, according to TRM Labs.&nbsp;
As per data provided on Tether's website, Tron-base USDT has a market cap of $54 billion, which makes it the top stablecoin on the blockchain. The Ethereum-based token comes in second place with $49 billion.&nbsp;
Tether believes that the volume of illicit transactions that involved its flagship stablecoin has been exaggerated, according to a statement made by the company's spokesperson.&nbsp;
A recent UN report has also singled Tron as the preferred choice for bad actors. However, Tron DAO said that such an allegation was inaccurate in its&nbsp;<a href="https://trondao.org/blog/2024/01/18/trons-statement-regarding-the-un-report-on-southeast-asia/" rel="noopener noreferrer nofollow">statement</a>, arguing that it is "actively engaging" with blockchain forensics companies. It added that it was "flawed" to assume that we could exercise direct control over those who use the technology.&nbsp;&nbsp;
As&nbsp;<a href="https://u.today/breaking-tron-trx-price-plunges-as-sec-sues-justin-sun" rel="noopener noreferrer nofollow">reported by U.Today</a>, the Tron founder was sued by the U.S. Securities and Exchange Commission last March.&nbsp;&nbsp;

Tron Accounts for Nearly Half of Illicit Transactions: Report

U_Today

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