According to CryptoPotato, data released by analysts at blockchain forensics firm TRM Labs shows that the TRON blockchain network accounted for 45% of all illegal transactions in 2023. The TRON blockchain network, founded by Chinese entrepreneur Justin Sun, had the highest illegal activity last year, rising from 41% in 2022 to 45%. The Ethereum and Bitcoin networks account for 24% and 18% respectively. Additionally, North Korean hackers frequently exchange stolen funds on the TRON network, primarily for USDT. These laundered crypto funds are then converted into fiat currency through large over-the-counter (OTC) brokers. The USDT stablecoin issued by Tether Inc. has become the currency of choice for terrorist financing entities, with more than $19 billion in illicit funds, according to TRM Labs. In comparison, USDC (USDC), another stablecoin, had only $428.9 million in illegal trading volume. Meanwhile, drug sales on darknet markets increased, reaching $1.6 billion in 2023, up from $1.3 billion in 2022, despite a decrease in illicit financing in other categories of crypto. TRM Labs reports that the volume of transactions using TRON to sell drugs has more than quadrupled during this period. Cybercriminals seem to prefer the TRON blockchain because of its relatively low gas fees, less price fluctuations, and despite being outdated, transactions made on this network are harder to trace. According to TRM Labs, illicit activity in the crypto space decreased by 9% in 2023 compared to the previous year, and total illicit funds shrank by 9%. Despite this, criminals still manage to manage nearly $35 billion in cryptocurrency. In 2023, scams and fraud accounted for nearly a third of all cryptocurrency crimes. However, the share of illicit funds in the crypto space has decreased this year, although it remains well above existing industry estimates. TRM Labs has observed a decline in transaction volumes for sanctioned funds and hacker funds, which it attributes to increased pressure from governments and law enforcement agencies around the world. The report highlights that the United States alone has tripled the number of entities and individuals sanctioned for crypto-related crimes. Notably, North Korean hackers received 30% less funding compared to 2022, and hacker proceeds fell by more than 50%, from $3.7 billion to $1.8 billion. This decline demonstrates the impact of increased law enforcement efforts on illegal activity in the crypto space.