TechFlow reports on June 18, cryptocurrency security researcher ZachXBT today issued a warning that the "criminal supercycle" in the crypto industry is intensifying. The researcher pointed out that since politicians launched meme coins and several legal cases were dismissed, abusive practices in the industry have clearly increased. Money laundering groups have successfully processed proceeds from hacks on platforms such as Bybit, DMM Bitcoin, and WazirX, with the black market on Tron estimated to be worth $5–10 billion, and most of the funds' origins remain unknown. More worrying is that many protocol teams turn a blind eye to activities involving over 50% stolen funds, simply collecting fees; meanwhile, influencers and KOLs engaging in fraud face no consequences. ZachXBT warns that while the current environment may bring short-term gains, the long-term implications are concerning.
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