Illicit cryptocurrency trading volume hit a record 158 billion USD in 2025, up nearly 145% year-over-year. Despite the increase in volume, illicit trading comprised only 1.2% of total cryptocurrency trading volume, down from 1.3% in 2024.
Illicit entities accounted for 2.7% of overall cryptocurrency liquidity in 2025, a decrease from 2.9% in 2024. Geopolitical issues prompted a staggering 400% rise in crypto flows tied to sanctions, while infrastructure attacks were responsible for 76% of total losses.
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