Illicit Crypto Hits All-Time High $154B; Stablecoins Lead at 84%

Cryptocurrency crime reached an all-time high in 2025, with illicit addresses receiving at least $154 billion—a 162% surge from the previous year, according to a new report from blockchain analytics firm Chainalysis. The dramatic increase was primarily driven by a 694% spike in funds flowing to sanctioned entities, marking, according to Chainalysis, a new era of “large-scale nation-state activity” in the crypto crime landscape. From Cybercriminals to Nation-States The report frames 2025 as the third wave of crypto crime evolution. The first wave (2009-2019) was characterized by rogue niche cybercriminals source: https://beincrypto.com/illicit-crypto-ath-154b-stablecoins/