Rakai Uncovers $3 Billion Cryptocurrency Network Used by State-Backed Actors

Rakai, a leading cybersecurity company, has revealed a massive cryptocurrency network estimated at $3 billion that is being used by state-backed actors for illicit activities.

The discovery was made possible through Rakai's advanced intelligence platform, which uses AI-driven multisensory data fusion to analyze vast streams of information. This approach allows investigators to move beyond transactions and uncover the actual actors behind them.

According to Omri Raiter, CEO of Rakai, the operational state rail for these flows runs overwhelmingly on USDT-TRC20, a stablecoin on the Tron network. While Bitcoin is still used in some cases, it is not the primary vehicle for day-to-day transactions.

Raiter notes that there are structural weaknesses in global crypto regulation that continue to enable illicit activity. He highlights how reactive compliance systems struggle to keep pace with rapidly shifting wallets and unregulated exchanges create blind spots across the ecosystem.