Blockchain investigator ZachXBT estimates that the “Black U” market operating on the TRON network is valued at between $5 and $10 billion, with a significant portion of the activity remaining untraceable.

“Black U” refers to a segment of economic activity on the Tron blockchain that operates outside official, regulated channels, using USDT (referred to as “U” in crypto circles) as its primary medium of exchange. 


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“Laundering groups and small OTC brokers have seemingly won the battle for Lazarus Group after successfully laundering recent hacks (Bybit, DMM Bitcoin, WazirX, etc) with ease,” said ZachXBT on X.

“A number of teams sit and watch collecting fees doing nothing when >50% of the activity for their protocol comes from stolen funds.”

Tron is poised to enter the public markets in the U.S. through a $210 million reverse merger with SRM Entertainment, a company listed on the Nasdaq stock exchange.