Crypto-Related Illicit Inflows Reached $158 Billion in 2025
Total illicit activity climbed last year as North Korea-linked hackers and sanctioned entities drove a significant rise in volume.
Updated on Oct. 12, 2026 in Financial Crime
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Crypto-related illicit inflows hit $158 billion in 2025, a substantial increase from the $64.5 billion recorded in 2024. Despite this rise, illicit activity accounted for only 1.2% of total attributed on-chain volume throughout the year.
Why it matters
The surge in total illicit volume was largely driven by sanctions-linked flows, major hacking events, and improved methods for attributing funds to illicit wallets. These figures reflect a complex landscape where criminal activity persists despite ongoing efforts to track and recover stolen digital assets.
Authorities froze nearly 400 cryptocurrency wallets and recovered $439 million in assets during Operation HAECHI VI, which ran from April through August 2025. Investigations into the approximately 150 recorded hacks are ongoing across international jurisdictions.
The players
Operation HAECHI VI
This is an international law enforcement initiative focused on identifying and freezing assets linked to illegal cryptocurrency transactions.
The details
Sanctioned entities and jurisdictions were responsible for $93 billion of the total inflows, while A7A5 token-linked flows accounted for another $72 billion. Hackers targeted platforms throughout the year, with the Bybit breach alone resulting in $1.46 billion in losses, while North Korea-linked actors stole a total of $2.02 billion.
Timeline
Illicit activity represented 2.4% of on-chain volume in 2023.
Illicit activity represented 1.3% of on-chain volume in 2024.
Operation HAECHI VI recovered $439 million in assets between April and August 2025.
Crypto-related illicit inflows reached $158 billion during 2025.
Legal Context
The 2025 data follows the 2024 illicit crypto-inflow report, illustrating a significant shift in criminal tactics and volume. This trajectory marks a departure from recent years, highlighting how illicit activity is evolving despite global efforts to curb financial crime.
The rising average scam payment, which reached $2,764 in 2025, underscores the importance of heightened vigilance for individuals using digital currency platforms. Enhanced wallet tracking and law enforcement operations continue to aim at securing the ecosystem for the general public.
The takeaway
While total illicit volume grew significantly, the proportional share of illicit activity within the broader crypto market remains relatively low at 1.2%. Investors should be aware that scam payments have risen sharply, necessitating cautious engagement with digital assets.
Further reading
For more on evolving threats in the digital asset space, visit our Financial Crime section.
Source note: This article includes information reported by TokenPost.
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