Illegal cryptocurrency flows reached a record $158 billion in 2025, a 145% increase from 2024 despite the illicit share of on-chain volume dipping slightly to 1.2%. TRM Labs attributes the surge to sanctions-linked activity tied to Russia-associated networks (notably A7 and the A7A5 stablecoin), expanded nation-state use, major hacks including the Bybit breach, and growing scam and laundering sophistication. #Bybit #A7A5
Keypoints
- Illegal crypto flows hit $158 billion in 2025, reversing a three-year decline.
- The increase was driven largely by sanctions-linked activity from Russia-associated networks like A7/A7A5.
- Nation-states including Russia, Iran, and Venezuela expanded crypto use as core financial infrastructure.
- Hacks totaled $2.87 billion across 150 incidents, led by the Bybit breach (~$1.46 billion) attributed to North Korean actors.
- Scams sent about $35 billion with investment scams at 62%, while laundering shifted from mixers (−37%) to bridges/cross-chain routing (+66%).