Chainalysis Report: Illicit Crypto Transactions Are Surging

The world of cryptocurrency is constantly evolving, bringing with it new opportunities and challenges. Among these challenges, the rise of cybercrime stands out as a major concern. Ámbito.com recently reported on the release of Chainalysis' 2025 Crypto Crime Report, shedding light on the alarming trends in illicit crypto transactions.

Illicit Transactions on the Rise

Since 2020, illicit transactions in cryptocurrencies are growing by an average of 22% annually. According to the Chainalysis report, addresses linked to illicit activities received a total of $45.3 billion in 2024. While this figure shows a slight decrease compared to initial estimates, experts are warning that the actual amount could exceed $55 billion as more illicit addresses are identified, potentially setting a new record for criminal activity within the blockchain ecosystem (Chainalysis, 2025).

In 2023, the initial Chainalysis report indicated $40.9 billion, but the 2024 update revised the figure to $51.2 billion. This upward trend suggests that current figures are still underestimated and the final numbers for 2024 will be considerably higher.

These illegal transactions include funds sent to addresses identified as illicit, hacks of DeFi platforms, and ransomware transactions. However, Chainalysis excludes conventional crimes such as drug trafficking or money laundering with cryptocurrencies unless there is verifiable evidence linking them to specific addresses.

Expert Perspectives

Pablo Rutigliano, Founder of Atómico 3, stated, «As the blockchain ecosystem evolves, so do the tools to combat crypto crime. Innovation in artificial intelligence, data analysis, and smart regulations will allow us to build a safer and more transparent market, without hindering the transformative potential of the technology» (as quoted in Ámbito.com, 2024).

Damián Azócar, Head Legal & Expansion of Vita Wallet, explained that the increase in crypto crime is not only a challenge but also an opportunity to improve industry standards. According to Azócar, the key to mitigating these risks lies in combining advanced KYT tools, risk assessment, and smart regulations that do not stifle innovation.

The Dominance of Stablecoins

Bitcoin (BTC) was once the preferred cryptocurrency for cybercriminals, but in 2024, stablecoins accounted for 68% of all illicit transactions. This trend reflects the overall growth in the use of stablecoins within the crypto ecosystem, as well as their ease of use in money laundering and illegal transactions.

While issuers like Tether have frozen addresses linked to criminal activities, stablecoins remain the primary choice for sanctioned groups and criminal networks. However, crimes such as ransomware and darknet markets still rely primarily on BTC and, to a lesser extent, Monero (XMR).

Key Trends in Crypto Crime for 2024

  • Increase in Hacks and Scams: More than $2.6 billion in cryptocurrencies were stolen, with North Korean hackers responsible for 65% of the total.
  • AI-Driven Fraud: The use of AI in personalized fraud and scams grew exponentially.
  • Ransomware Persists: Despite law enforcement efforts, ransomware groups' revenues remained in the hundreds of millions of dollars. However, there is a decreasing willingness of victims to pay ransoms.
  • Professionalization of Crypto Crime: Networks like Huione Guarantee have processed over $80 billion since 2021, facilitating money laundering and the sale of tools for large-scale fraud.

Conclusion

The Chainalysis 2025 report confirms that crypto crime is continuously evolving, with more sophisticated networks and advanced techniques to evade detection. As the blockchain ecosystem grows, so do the challenges in cybersecurity and regulatory compliance. It’s becoming increasingly clear that proactive measures, innovative tools, and collaborative efforts are essential to mitigate these risks and foster a safer crypto environment.

According to Ámbito.com (2024), the need for a more secure and transparent market is critical to harnessing the transformative potential of blockchain technology. With the right strategies and technologies, the crypto industry can navigate these challenges and continue to innovate while ensuring a safer environment for all users.