$649B stablecoin transfers linked to illicit activity in 2024: Report

Share via:


Cryptocurrency compliance firm Bitrace found that $649 billion worth of stablecoins flowed through addresses classified as high-risk in 2024, according to an April 29 report.

Bitrace defines high-risk blockchain addresses as those used by illegal entities to receive, transfer or store stablecoins.

Crypto compliance firms typically score crypto wallet addresses based on their likelihood of involvement in illicit activities. The higher the risk, the higher the likelihood of foul play, and the less likely compliant crypto businesses are to accept the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

$649B stablecoin transfers linked to illicit activity in 2024: Report


Cryptocurrency compliance firm Bitrace found that $649 billion worth of stablecoins flowed through addresses classified as high-risk in 2024, according to an April 29 report.

Bitrace defines high-risk blockchain addresses as those used by illegal entities to receive, transfer or store stablecoins.

Crypto compliance firms typically score crypto wallet addresses based on their likelihood of involvement in illicit activities. The higher the risk, the higher the likelihood of foul play, and the less likely compliant crypto businesses are to accept the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Apple @ Work Podcast: Adaptiva expands to Mac and...

Apple @ Work is exclusively brought to you...

AirPods Pro 3’s best upgrade could be the gift...

AirPods Pro 3 are coming later this year,...

GoTo’s Q1 net revenue grows 37%, net loss down...

GoTo achieved an adjusted EBITDA of around US$23.5...

Popular

Upcoming Events

Karnataka Minister Asks Officials To Implement HC’s Bike Taxi...

SUMMARY The Karnataka transport minister Ramalinga Reddy wrote in...

Karnataka High Court directs Centre to initiate blocking of...

The Karnataka High Court has instructed the Union...

Philips 7000, i9000 and i9000 Prestige Ultra electric shavers...

Philips has launched three new electric shavers in...
GdfFD GFD GFD GFD GFD GFD GFD