BlockBeats reported that on June 18, on-chain detective ZachXBT stated on social media that the 'criminal super cycle' does indeed exist. Although the crypto industry has always had a soil prone to abuse, this phenomenon has clearly intensified since politicians started issuing meme coins and multiple related cases were withdrawn, further fueling misconduct.
Money laundering groups and over-the-counter brokers seem to have gained the upper hand in the struggle against the Lazarus Group (North Korean hacker organization), successfully and effortlessly completing recent money laundering operations related to several hacking incidents (such as Bybit, DMM Bitcoin, WazirX, etc.). It is estimated that the market size of 'black U' on the Tron chain is at least between 5 to 10 billion dollars, and most of the fund flows are not effectively tracked.
Some teams are fully aware that over 50% of the transaction volume in their protocols comes from stolen funds, yet they choose to stand idly by, collecting fees without taking any action. Key opinion leaders (KOLs) openly deceive fans and project parties, and have almost never faced any consequences. Courts, due to legal lag, frequently side with smart contract attackers. In the current environment, the gray and black boundaries are clearly defined: those who operate in the gray area (regulatory arbitrage, money laundering channels, etc.) are in a favorable position, while black hat activities (phishing, social engineering, robbery) are at their historically most dangerous moment.
