Crypto crime topped $150 billion in 2025 as state-backed actors scaled onchain: Chainalysis
Illicit crypto activity reached $154 billion in 2025, driven by state-backed actors like North Korea and Russia evading sanctions.Summary
According to a new Chainalysis report, the total value received by illicit cryptocurrency addresses hit $154 billion in 2025, marking a 162% increase from the previous year, largely fueled by sanctioned entities and state-level sanctions evasion. Chainalysis noted this is a lower-bound estimate, as historical data is continually updated, citing that the 2024 estimate rose significantly after one year. Despite this nominal record, illicit volume remains under 1% of total crypto transactions. State-linked actors dominated the threat landscape, with North Korea hackers stealing $2 billion, including the record $1.5 billion Bybit exploit. Russia utilized the ruble-backed A7A5 stablecoin, which saw over $93.3 billion in transactions despite being sanctioned by the US and EU. Iranian proxy networks also facilitated over $2 billion in illicit activity. Stablecoins accounted for 84% of all illicit volume, preferred for cross-border transfers, and crime is increasingly relying on full-stack illegal infrastructure providers.
(Source：The Block)