Crypto detective ZachXBT reported an increase in abuses in the stablecoin sector on the TRON blockchain, noting extensive money laundering and the activity of criminal organizations.
This is reported by Business • Media
Criminal Schemes and the Activities of the Lazarus Group
According to the expert, there has been a significant rise in abuses within the crypto industry recently. This trend has intensified following the launch of meme coins by politicians and the closure of several legal cases, which, in ZachXBT’s opinion, has only contributed to the development of illegal activities. He particularly highlighted the Lazarus Group, which, he stated, has laundered substantial amounts stolen during hacking attacks on exchanges Bybit, DMM Bitcoin, and WazirX without any hindrance. The laundering was carried out through small OTC brokers and specialized networks.
“I estimate the black market for stablecoins on TRON to be between $5-10 billion,” the detective wrote, adding that most of these assets are not linked to real individuals.
Regulatory Issues and Market Participants’ Accountability
ZachXBT emphasized that some crypto project teams continue to charge fees, despite a significant portion of the activity in their protocols being linked to stolen funds. In addition, the expert criticized influencers who promote fraudulent initiatives, as well as the judicial system, which he believes often sides with wrongdoers due to outdated legislation. He noted that it is currently “the worst time for phishing and social engineering,” as gray schemes appear more profitable and safer for criminals.
It was previously reported that Curve Finance founder Mikhail Egorov expressed the view that crypto hackers operate on commission and coordinate their attacks, confirming the scale of the problem in the crypto sector.