Illicit Crypto Activity Hits Record $158bn in 2025
Illicit crypto wallets received an estimated $158bn in currency last year, the highest level observed in five years, according to TRM Labs.
The blockchain analytics firm said the figure represents a 145% increase on the previous year ($64.5bn), although admitted that changes to its methodology mean direct historical comparisons are problematic.
A report from Chainalysis late last week arrived at a similar figure for 2025: $154bn. It claimed the annual increase in 2025 was an even higher 162%.
According to TRM Labs, the year-on-year (YoY) increase can be explained by several factors:
- An increase in sanctions-evading activity by the likes of Venezuela, Iran and (especially) Russia, as Western governments stepped up embargoes. The…
