Overview
- Illicit addresses took in at least $154 billion in 2025, a 162% jump year over year, driven by a 694% increase in value received by sanctioned entities.
- Russia’s ruble-backed A7A5 token moved roughly $93.3 billion within its first year, illustrating large-scale sanctions evasion on-chain.
- DPRK-linked hackers stole about $2 billion, led by the February Bybit exploit near $1.5 billion, the largest crypto heist to date.
- Stablecoins comprised 84% of illicit transaction volume, reflecting their liquidity, price stability, and cross-border utility for illicit finance.
- Chinese money laundering networks expanded into full-service infrastructure, offering laundering-as-a-service that supports a wide range of illicit actors.