is crypto crime peaking or adapting?
North Korea-linked hackers stole more than $2 billion in cryptocurrency in 2025, surpassing every prior year on record, while global law enforcement recovered $439 million and arrested hundreds of money launderers across 40 countries in a single four-month operation.
The collision of record state-sponsored heists and coordinated multilateral enforcement raises a sharper question than whether crypto crime is out of control: are attackers hitting a ceiling, or are they learning to route around every new checkpoint governments deploy?
The answer shapes treasury policies, bridge security budgets, and the viability of privacy-preserving infrastructure. If enforcement dents illicit flows, the industry can rely on improved KYC, sanctions, and…
