Chinese crime syndicates are utilizing cryptocurrencies to launder billions of dollars, some of which are proceeds from drug trafficking to the U.S. and scamming American victims. Illegal crypto activities are linked to sanctioned groups and terrorist organizations. In February 2024, estimated losses from cybercrime reached around $404 million, with concerns over private key leaks. A new study reveals global victims' losses of up to $75 billion due to pig-butchering scams. Cybercriminals stole over $104 million worth of crypto in February, marking a decrease from January. The digital asset industry faced nearly half a billion dollars in theft last month, highlighting ongoing security challenges.