BlockSec has officially released the 2025 Crypto Crime Report.
This report looks at two key blockchain networks: Ethereum and Tron. It analyzes six main types of cryptocurrency-related crime.
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Scams
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Hacks and exploits
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Terrorist financing
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Human trafficking
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Drug trafficking
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Sanctions-related activity
Through quantitative assessment of illicit revenue, structural analysis of on-chain laundering pathways, and identification of risk concentration points, the report delivers a comprehensive examination of how cryptocurrency-enabled crime evolved in 2025.
By combining empirical on-chain data, case studies, and enforcement observations, the report provides professional reference material for:
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Industry compliance teams
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Regulators and law enforcement agencies
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Exchanges and payment institutions
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Research and consulting organizations
In a global environment characterized by tightening regulation and expanding on-chain transaction volume, the report seeks to answer three core questions:
- How has the scale of illicit funds changed?
- How have laundering pathways evolved?
- Where are the structural enforcement leverage points?
Core Research Findings of the Report
1. A $100 Billion Surge in Sanctions-Related Activity
In 2025, transaction volume linked to sanctions jumped by almost $100 billion compared to the previous year. The main factor was the $70 billion transaction volume of the ruble-denominated stablecoin A7A5. This stablecoin aims to bypass traditional financial channels.
2. The $1.5 Billion Lazarus Strike & Layered Laundering
The Lazarus Group remains the most sophisticated threat actor, highlighted by their $1.5 billion exploit of Bybit in 2025. Their laundering strategy has become complex and tool-driven on Ethereum. Now, 20.1% of illicit funds are hidden through mixers like Tornado Cash.
3. Stablecoins: The $100B+ Enforceable Infrastructure
Stablecoins have moved from passive tools to active regulatory interfaces. In 2025, the scale of freezing activity reached a structural turning point. For example, adding entities like Huione Group to sanctions lists boosted traceable illicit flows by billions. This shows that stablecoin issuers can enforce rules at the contract level now.
4. Southeast Asia’s Industrialized Scam Economy
The scam ecosystem in Southeast Asia has become a fully industrialized "human supply chain." Huione Group made up about 2.73% of all scam-related funds on the TRON network. It acted as a key laundering node for organized crime.
5. The Financialization of Drug Trafficking on TRON
Drug trafficking has moved to on-chain networks. Most of this activity is on TRON because it has low transaction costs. These networks now use professional laundering methods that look like real financial services. They move money away from cash smuggling and toward stablecoin systems.
6. Identifying the 80% Concentration Leverage
Risk is not evenly distributed; it is highly concentrated. On the TRON network, over 80% of scam proceeds ultimately flow into a small number of centralized exchanges. This shows a big enforcement chance. By limiting key liquidity hubs, authorities can disrupt most illegal money-making.
Report Overview
This 36-page report is based on data analysis and on-chain evidence. It also includes breakdowns of common real-world cases. It shows the big picture of cryptocurrency crime in 2025. It covers the main features, structure, and trends in this field.
Target Audience:
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Cryptocurrency Industry Professionals
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Heads of Compliance and Risk Management
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Exchanges and Payment Institutions
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Regulatory and Law Enforcement Agencies
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Research and Consulting Firms
The industry is facing stricter rules and more transparency. This report provides clear and useful research for all involved.
Fill out the form to download the full 2025 Crypto Crime Report (PDF).
