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Illicit Cryptocurrency Activities Decline by Nearly 40%, Reveals Chainalysis Report

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Illicit cryptocurrency activities have dropped by nearly 40% in 2023, according to a Chainalysis report. Improved security measures and regulatory oversight in the crypto space have contributed to the decline, with stablecoins surpassing Bitcoin in illicit transactions. While there has been a decrease in crypto scams and hacks, ransomware and dark net activities have increased. The report emphasizes the need for continued vigilance and collaboration to combat crypto-related crimes.

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