ZachXBT warns that the crypto industry has reached a “crime super cycle” and that black and gray market activities have surged

PANews reported on June 18 that ZachXBT, a chain detective, wrote that as politicians launched meme coins and courts withdrew multiple cases, the crypto industry has entered a "crime super cycle". Lazarus and other organizations easily handle stolen funds from Bybit, DMM Bitcoin, WazirX, etc. through small OTC and money laundering groups. The scale of the black market on the Tron chain is estimated to be between 5 billion and 10 billion US dollars. He criticized some protocols for charging fees for more than 50% of their funds coming from stolen assets, and pointed out that there is a lack of legal sanctions for fraudulent KOLs and smart contract vulnerability exploiters. He called on the industry to reflect on institutional loopholes and long-term risks.

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Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

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