BlockBeats News, April 29th. According to official sources, Bitrace has released its annual Crypto Crime Report, pointing out that the scale of crypto fraud has sharply increased. By 2024, the scale of blockchain addresses associated with fraudulent activities has exploded, especially in stablecoin embezzlement. Compared to the years 2021 to 2023, the total amount of funds in that year has reached $52.5 billion, exceeding the sum of previous years.In addition, on-chain freezing activities involving stablecoins have significantly increased in 2024. It was a year of active cooperation between stablecoin issuers and law enforcement. Tether and Circle collectively froze stablecoins worth over $1.3 billion on the Ethereum and Tron networks, which is twice the freezing scale of the previous three years.Regulation has brought a positive impact to Hong Kong. From a global perspective, major regulatory bodies have shifted from a wait-and-see attitude to more proactive intervention in cryptocurrencies, driving the industry towards a more standardized and transparent direction. Hong Kong's compliance policies, through clear legal requirements, customer fund protection, combating illicit activities, attracting institutional funds, and aligning with international standards, have built a safer and more controllable crypto ecosystem. This has not only reduced direct fund losses from hacking attacks, platform bankruptcies, or legal penalties but also lowered indirect risks by enhancing market trust and stability.