Illicit crypto transactions

[Aanuoluwatofunmi]

Yes, it happens that people make illicit transactions in cryptocurrency, but how are we going to compare this to the rate of the ones observed will the government regulated financial institution called banks, and still, they have nothing to do in maintaining and managing the rate of occurrences on this manners, i believe most of these crypto illegal activities were as a result of the users being fallen as a victim of scam attempts by their own greediness or personal mistakes.

[DrBeer]

Illicit crypto transactions hit $24.2B in 2023, a notable drop. Figures are conservative estimates, likely to rise next year as more illegal addresses are uncovered.

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There is nothing surprising here! We are observing the effect of the work of regulators, states and international organizations on illegal financial transactions - from “tax-free payments” (tax evasion) to the introduction of strict rules for the operation of exchanges. Also, do not forget the ongoing fight against mixers and highly anonymous cryptocurrencies. All this leads to the fact that part of the movement of funds “left the market”, which affected the indicators. I don’t think that we will see an increase in such payments in 2024, even with the growth of the crypto market

[yohananaomi]

Based on that graph, I can see the consistency of scam from the previous years to the present, meaning there are still cryptocurrency enthusiasts who fall into the trap of scammers. Here in my country I even heard the news about influencers and popular individuals still got scammed. Still a lot of people within crypto and not into it are falling to get rich quick scheme that is why they easily fall victim to this kind of modus.

It seems like this is difficult to eradicate and is no longer strange and has even become a very profitable livelihood. So it can be seen that the graph will continue to move upwards, especially when it starts to enter the increasing season, which will increase the number of people caught in the trap. I think you are right that the goal of getting rich quickly provides the biggest incentive to become a very attractive mode for many who attend, and it is not surprising that popular individuals and influencers are also involved in it. It is no longer just a story but a reality.​