According to PeckShieldAlert, the total value of hack-related crypto laundering in 2024 reached $1.3 billion, marking a significant increase of 280% from the $342 million recorded in 2023. This surge potentially correlates with rising cryptocurrency prices, which may have incentivized more hacking activities. PeckShield's analysis focused on a limited set of reported instances involving hack losses greater than $1 million. The report highlights how the growing appeal and valuation of cryptocurrencies have increased their attractiveness as targets for cybercriminals.

The implications of this surge in laundering activities are profound for traders and investors. As hackers increasingly target cryptocurrencies, the risk premium associated with trading digital assets may rise. This could lead to increased volatility and potentially impact liquidity as traders become more cautious. The data from PeckShield indicates that 2024 also experienced a substantial $834.5 million loss due to crypto scams and phishing, a 24.14% decrease from the $1.1 billion recorded in 2023. Despite the decrease, phishing tactics, including social engineering, approval phishing, and address poisoning, have grown bolder, accounting for $660 million or 79% of the total scam losses.

From a technical analysis perspective, the increase in laundering activities suggests a potential rise in the sell-off pressures as stolen assets are liquidated. This could affect the market's order book depth and may trigger increased selling volumes, particularly if large quantities of crypto are moved off-chain to be liquidated. The trading volumes during these laundering activities could potentially inflate liquidity metrics temporarily, leading to misleading market depth indicators. Traders should, therefore, remain vigilant and consider employing more robust risk management strategies to mitigate potential impacts on their portfolios.