Stablecoins accounted for 63% of illicit cryptocurrency activity in 2024, surpassing Bitcoin as the primary tool for criminal transactions, according to a report by the Financial Action Task Force (FATF) in June 2025. These digital assets are increasingly used by illicit actors, including North Korean entities, drug traffickers, and terrorist financiers, for cross-border money laundering and scams. Chainalysis highlighted the preference for stablecoins due to their ease of movement and pseudonymous nature, often transacted through unregulated exchanges or OTC markets. In Korea, stablecoins have been linked to scams such as 'Oda Jangjip,' involving fake e-commerce listings to defraud buyers. The UNODC also reported the use of Tether (USDT) on the TRON blockchain by Southeast Asian criminals for online fraud. Chainalysis recommended users verify token contracts, use hardware wallets, and enable multi-factor authentication to mitigate risks. For institutions, continuous transaction monitoring and adherence to AML standards are advised. Stablecoins' market cap has surpassed $313 billion, with projections of reaching $2 trillion within three years, according to U.S. Treasury Secretary Scott Bessent.