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January 17, 2025

Tron’s Triumph: Reducing Illicit Crypto Activity in 2024

Tron’s Triumph: Reducing Illicit Crypto Activity in 2024

It seems like Tron (TRX) blockchain has just hit a pretty big milestone. According to a report from TRM Labs, they’ve managed to reduce illicit crypto transactions by 24% in 2024. That’s a drop to $45 billion, which, considering the criticism that crypto gets for being a hotbed for illegal activities, is a decent number. This looks like a win for their security measures and collaborative efforts, but how much should we read into it?

Security Measures and Collaborations

Tron’s security framework isn’t just some half-baked idea; it’s got layers, and it includes the Delegated Proof of Stake (DPoS) consensus model and secure smart contract execution. These features are supposed to protect against common threats like double-spending and DDoS attacks. So, sure, maybe there’s something to the claim that the decline in illicit transactions isn’t just PR spin.

There’s also the T3 Financial Crime Unit (T3 FCU), a partnership between Tron, TRM Labs, and USDT issuer Tether. They’ve been on a mission to identify and freeze criminal assets. Launching this unit in Q3 2024 seems to have contributed to the drop, especially with the freezing of over $130 million worth of USDT linked to criminal activity.

But wait, there’s more. The TRM Labs report shows that this isn’t just a Tron issue. Crypto crime is down across the board; they recorded a 51% decrease in illicit transactions across all crypto volumes in 2024 compared to last year. So while Tron is doing something right, is this a sign that the entire industry is maturing?

The security assessment done by ChainSecurity also backs up their claims. It highlighted vulnerabilities that were fixed, including some that had to do with block censoring and PBFT messages. And yeah, those fixes probably helped.

Summary

To wrap it up, the decline in illicit transactions on Tron seems to come from both better security measures and real efforts to address vulnerabilities. It’s possible that the broader drop in crypto crime indicates the entire market is shifting in a more positive direction. I guess we’ll have to wait and see.

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Egor Romanov
About Author

Egor Romanov is an experienced crypto analyst, professional trader, and author of trading strategies and the Cryptorobotics blog, where he shares his knowledge about cryptocurrencies and financial markets.

Alina Tukaeva
About Proofreader

Alina Tukaeva is a leading expert in the field of cryptocurrencies and FinTech, with extensive experience in business development and project management. Alina is created a training course for beginners in cryptocurrency.

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