Ethereum

Bitcoin

TRON

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/tron-blockchain-leads-in-hosting-crypto-scams-despite-overall-decline-in-illegal-activity" rel="noopener noreferrer nofollow">TRON Blockchain Leads in Hosting Crypto Scams Despite Overall Decline in Illegal Activity</a><br></p>
<p style="text-align: justify">A recent analysis by TRM Labs has shown a startling concentration of fraudulent crypto activity on the TRON Blockchain. While there has been a general downturn in the volume of illegal crypto transactions, with a reduction to $34.8 billion in 2023, the TRON network has become the staging ground for nearly half of these nefarious acts. This has raised concerns despite the overall illegal crypto volume falling by a third.</p>
<h2 id="report-highlights-dominance-of-tron-in-crypto-scams">Report Highlights Dominance of TRON in Crypto Scams</h2>
<p style="text-align: justify">The research by TRM’s intelligence team underscores that TRON has outpaced other blockchains like Ethereum and <a href="https://en.bitcoinhaber.net/bitcoins-anticipated-surge-a-2024-forecast-of-potential-highs-and-strategic-events" rel="noopener noreferrer nofollow">Bitcoin</a> in hosting illegal transactions. In particular, the <a href="https://en.bitcoinhaber.net/the-evolution-of-tether-a-story-of-innovation-resilience-and-determination" rel="noopener noreferrer nofollow">USDT</a> stablecoin on TRON was the most utilized in these transactions, accounting for 1.63% of the illegal volume. This reflects a persistent risk of fraud within the crypto space.</p>
<h2 id="factors-behind-tron-s-appeal-to-fraudsters">Factors Behind TRON’s Appeal to Fraudsters</h2>
<p style="text-align: justify">Industry experts, such as Angela Ang from TRM, attribute TRON’s susceptibility to fraud to its low fees and fast transactions, which are advantageous for money laundering. This could lead to more stringent regulations from oversight bodies to mitigate the risk and protect users.</p>
<p style="text-align: justify">Despite the prevalence of scams on the TRON network, the overall crypto crime landscape has seen a positive trend. A substantial 30% drop in illegal crypto funds was recorded, from $49.5 billion to $34.8 billion. This decline is partly due to a decrease in the value of assets linked to sanctioned entities and a reduction in losses from crypto attacks and exploitations.</p>
<p style="text-align: justify">The reduction in crypto crimes, which also includes a significant decrease in the average amount lost per <a href="https://en.bitcoinhaber.net/radiant-capital-suffers-4-5-million-hack-on-arbitrum" rel="noopener noreferrer nofollow">hack</a>, signals a step forward for the industry. It suggests effectiveness in the measures taken by businesses and an increase in public awareness and education on preventing fraud. These improvements hint at a brighter future for the crypto market, with a focus on more secure and trustworthy operations.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/tron-blockchain-leads-in-hosting-crypto-scams-despite-overall-decline-in-illegal-activity" rel="noopener noreferrer nofollow">TRON Blockchain Leads in Hosting Crypto Scams Despite Overall Decline in Illegal Activity</a></h5>

TRON Blockchain Leads in Hosting Crypto Scams Despite Overall Decline in Illegal Activity

Table of Contents

BH NEWS

Other articles published on Mar 29, 2024

Massive Gains Forecast for Kelexo (KLXO) Ignites Dogecoin (DOGE) and Shiba Inu (SHIB) Investor In...

Prominent Crypto Analyst Capt Toblerone Projects XRP Surge – Solana Eyes $750 as KANG Upholds Upw...

US Bitcoin ETFs Rebound with Significant Inflows

Web3 dev platform Mirror World launches first gaming rollup chain on Solana

Ethereum ETF Approval Odds Stir Speculation in Crypto Community

Bitcoin Price Retreats and Exchange Reserves Shrink as Halving Approaches

Join our free newsletter for daily crypto updates!