The landscape of crypto-related crime is continuously evolving. And understanding the latest trends across the illicit crypto ecosystem is critical for law enforcement, regulators, and financial institutions in preventing and disrupting criminal activity.
Our latest report, out now — 2025 Crypto Crime Report — provides an in-depth analysis of illicit activity in the cryptocurrency ecosystem over the past year.
Key findings
1. Illicit crypto volume declined
In 2024, illicit crypto transaction volume fell to approximately USD 45 billion, marking a 24% decrease from 2023. However, TRM analysts expect this figure to be revised upward over time, as attribution and reporting continue to uncover additional illicit transactions.
2. Sanctioned entities remain the largest drivers of illicit volume
Sanctioned entities accounted for 33% of illicit crypto volume, with blocklisted addresses and scams and fraud following closely behind. This underscores the continued use of crypto to circumvent global financial restrictions, despite increased enforcement efforts.
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3. Ransomware reached record highs
Ransomware attacks surged in 2024, with 5,635 publicly reported incidents, surpassing previous years. Threat actors increasingly leveraged cross-chain bridges to obscure ransom payments, making detection and disruption more challenging.
4. Crypto-based terrorist financing expanded
Terrorist organizations demonstrated increased sophistication in their use of cryptocurrency, turning to unhosted wallets, mixers, and privacy coins like Monero. The rise in operational security tactics presents new challenges for counter-terrorism efforts.
5. USD 2.2 billion was stolen in crypto-related hacks
Crypto-related hacks saw a 17% year-over-year increase, with North Korean-linked groups alone stealing nearly USD 800 million. Private key and seed phrase compromises remained primary attack vectors.
Read the full report now
The ever-evolving tactics of illicit actors highlight the need for proactive risk management, intelligence sharing, and regulatory coordination. While progress has been made in curbing illicit activities, crypto crime remains a dynamic and persistent threat.
The 2025 Crypto Crime Report provides a comprehensive breakdown of illicit trends, enforcement actions, and emerging risks shaping the crypto economy. Instantly download your copy today to gain deeper insights into the evolving threat landscape, and what lies ahead for 2025.
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