Crypto Crime Caper: $41B Swindled, North Korea Takes the Cake!
In 2024, cybercriminals scammed, hacked, and defrauded their way to a potential $51 billion, according to Chainalysis. North Korea stole a whopping $1.3 billion, while stablecoins became the new criminal currency of choice. Despite the chaos, illicit crypto activity remains a tiny fraction—only 0.14% of total transactions.
Hot Take:
Cryptocurrency: The digital Wild West where even the outlaws are diversifying their portfolios. Who knew that stablecoins would become the new favorite currency for the world’s most wanted? Maybe next year we’ll find out they’re trading NFTs for bail bonds. But hey, at least 99.86% of us are still just trying to buy our morning coffee with crypto, right?
Key Points:
- Cybercriminals pocketed at least $41 billion from illicit activities last year.
- Stablecoins accounted for 63% of illicit crypto activities in 2024.
- North Korea was responsible for $1.3 billion of the $2.2 billion stolen in funds.
- Despite the rise in crypto crime, legitimate crypto transactions remain overwhelmingly dominant.
- Bitcoin is still king in ransomware and darknet sales but is losing its overall criminal appeal.
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