Illicit Crypto Volumes Reached $51B Last Year: Report

News
Reading Time: < 1 minute

According to estimates by Chainalysis, illicit crypto volumes potentially reached a whopping $51 billion in 2024. However, this number is comparatively lower than the previous year, as the share of illicit crypto use has decreased to its lowest level in the past three years.

Despite the decrease, last year still saw a significant amount of $41 billion in illicit crypto volume. The analytics firm predicts that this could increase by another $10 billion in the coming years, as historical trends show a continuous rise in illicit activity and more illicit addresses are being identified.

Chainalysis states that these estimates only account for the illicit addresses identified to date and do not include any potential future activity. They expect the numbers to increase even more in the future as they identify additional illicit addresses and incorporate their historical activity into their calculations.

In 2024, the crypto market experienced a rebound after a period of stagnation that had begun in the latter half of 2022. This recovery was largely fueled by the introduction of US exchange-traded funds and Donald Trump’s election, leading to a peak market value of over $3.9 trillion by mid-December.

If you like our content and want to support us, please follow us on X, Facebook and Instagram and don’t miss the latest news!