According to a new report from TRM Labs, more than half of illegal crypto transactions in 2024 occur on the Tron network, with a total value of up to $26 billion. This makes Tron the primary platform for illegal activities, surpassing Ethereum and Bitcoin.
Why Does Tron Attract Bad Actors?
Tron is a blockchain with low transaction fees, supporting many major stablecoins like USDT, along with the ability to deploy smart contracts, making it the top choice for fraudsters and hackers.
One of the main reasons is that sanctioned organizations also leverage Tron to conduct transactions. #TRMLabs indicates that nearly 50% of illegal transactions on Tron involve sanctioned entities.
Most notably, hackers from North Korea have stolen $800 million from crypto projects in 2024. These funds are often quickly laundered through Tron before being converted to cash.
Moreover, a United Nations report shows that USDT on Tron is the top choice for money laundering and fraud organizations in Southeast Asia.
Tether, Tron and TRM Labs Join Forces to Prevent Illegal Activities
Under pressure from law enforcement agencies, a new initiative called T3 Unit was established in 2024 by TRM Labs, #Tether and Tron. The main goal of this project is to closely monitor the use of USDT on Tron.
As a result, over $130 million in illegal assets have been frozen in just six months.
Notably, although it remains the leading platform for illegal transactions, illegal activity on $TRX has decreased by $6 billion compared to 2023 – a sign that the network is making reform efforts.
Can Tron Erase its "Bad Reputation"?
Although the issue of Tron abuse has not been completely resolved, with increasingly strict control measures, the network is showing certain progress.
📌 Will Tron’s efforts be enough to regain its reputation, or will the platform continue to be a "paradise" for shady transactions? Let's wait and see! 🚀 #anhbacong