Cryptocurrency’s frictionless, transnational, low-regulation transactions have long promised the ability to pay anyone in the world for anything. More than ever before, that anything includes human beings: victims of human trafficking forced into scam compounds and the sex trade on an industrial scale, bought and sold in crypto deals carried out with impunity, often in full public view.

In new research published today, crypto-tracing firm Chainalysis found that crypto-funded transactions for human trafficking—largely forced laborers trapped in compounds across Southeast Asia and coerced into working as online scammers, as well as sex-trafficking prostitution rings—grew explosively in 2025. According to the firm’s analysis, based…