Would be nice to hear where you are basing the claim 'vast majority', when different chain analysis companies have been pretty consistent in reporting illicit activity to be closer to 1% of total transaction volume [1][2]
1. excludes proceeds from crime that originate in fiat and later transfer into crypto
2. exclude transfers to blockchain addresses that have not been attributed to illicit activity
3. excludes laundering of illicit crypto proceeds
While this seems reasonable to create a metric to compare YoY, I think it's very flawed to generate an absolute figure of illicit activity (or percentage of transaction volume).
1: https://www.trmlabs.com/fr/reports-and-whitepapers/2026-cryp...
2: https://www.chainalysis.com/blog/crypto-drug-sales-darknet-m...