Tether, also known as USDT, emerged as the most utilized stablecoin for illicit activities within the crypto industry in 2023, with a notable decrease in the total volume of unauthorized transactions compared to the previous year. According to findings by TRM Labs, a prominent blockchain analytics company, Tether was associated with approximately $19.3 billion in illegitimate transactions, down from the $24.7 billion linked in the previous year. This decline occurred during a time when various digital-asset entities encountered sanctions, indicating a shift in the landscape of illicit activity within the sector.