> At a Glance
> – Criminal crypto wallets received $154 billion in 2025, a 162% jump from 2024
> – Sanctioned entities drove the surge with a 694% rise in value received
> – Stablecoins now make up 84% of all illicit transaction volume
> – Why it matters: Even as crypto adoption grows, crime is scaling faster-and nation-states are leading the charge
Crypto crime shattered records last year as blockchain analytics firm Chainalysis tracked $154 billion flowing to illicit addresses, dwarfing every prior year.
Sanctions, Scams, and Nation-States Fuel the Boom
The spike was led by a 694% year-over-year explosion in value received by sanctioned entities, yet every major crime category-hacks, scams, money laundering-also surged.
Despite the eye-popping total, illicit volume stayed below 1% of all on-chain activity, only marginally higher than in 2024.
- North Korea stole nearly $2 billion, including $1.5 billion from the February Bybit exploit-the largest crypto theft on record.
- Russia’s ruble-backed A7A5 token processed $93.3 billion in its first year after lawmakers green-lit crypto-based sanctions evasion.
- Iranian proxy networks moved $2 billion through sanctioned wallets to fund arms, oil sales, and terror operations.
Stablecoins Dominate, Laundering Goes Professional
Stablecoins now capture 84% of illicit volume thanks to low volatility and easy cross-border settlement.
Chainalysis flagged Chinese laundering rings as the new power brokers, offering “laundering-as-a-service” to scammers, hackers, and sanctions evaders.
| Actor | 2025 Illicit Volume | Key Method |
|---|---|---|
| Sanctioned entities | 694% YoY growth | Token transfers |
| North Korea | $2 billion | Exchange hacks |
| Russia A7A5 token | $93.3 billion | Sanctions evasion |
| Chinese networks | Billions laundered | Service-based model |
“Full-stack” criminal infrastructure-bulletproof hosting, resistant domains, turnkey laundering platforms-enabled ransomware crews and dark markets to scale rapidly.
Crypto Meets Violent Crime
The report documented a grim crossover: human traffickers and physical-coercion gangs now force victims to transfer crypto at gunpoint during price spikes.
Key Takeaways
- $154 billion in illicit crypto marks a 162% annual increase.
- Sanctions evasion is the fastest-growing category, up 694%.
- Stablecoins have become the criminal asset of choice.
- Nation-states-North Korea, Russia, Iran-are now central players.
- Professional laundering networks sell end-to-end services to any payer.
Even with legitimate adoption booming, 2025 proved that illicit actors can scale just as fast-often faster-than the rest of the market.
