In 2024, the share of crypto transaction volume associated with illicit activity plunged from 0.61% to 0.14%. Meanwhile, by many metrics, last year was the best one for cybercriminals, Chainalysis says in new reports on using cryptocurrency by criminals across the globe.
Scams still prolific, Chainalysis 2025 Crypto Crime report says
In 2024, cryptocurrency involved in various criminal activities totals $40 billion, fresh Chainalysis 2025 Crypto Crime report unveils. Based on historical trends, this estimation should be increased to almost $51 billion, authors say.
This calculation is cautious as it only includes the amount of crypto transferred to illicit addresses and cryptocurrencies being stolen in known hacks. In 2023, criminals moved $46.1 billion in equivalent.
Stolen funds is one of the fastest-growing categories in crypto-related criminal activity. It increased by approximately 21% YoY to $2.2 billion with 43.8% of crypto lost due to private keys being compromised. At the same time, crypto usage on darknet markets and fraud shops plummeted.
Unfortunately, the crypto crime scene is becoming increasingly diverse and professionalized. Huione Guarantee, an online marketplace used by illegal actors, could be a textbook example of this process.
Its crypto-funded offerings included sales of scam technology, processing of "gray" crypto, sanction evasions, child abuse materials distribution and infrastructure support of illegal gambling in Asia.
Stablecoins, AI, North Korea, pig butchering: Trends of crypto crime
Bitcoin (BTC) is losing its role as an instrument for illegal transactions for the fourth year in a row, while stablecoins and Ethereum (ETH) are stealing the spotlight here.
The growing presence of artificial intelligence (AI) in online crypto crime is yet another concern of researchers amid the enormous interest in AI usage in crypto:
We have also observed the increasing use of articial intelligence (AI) in the fraud and scams space, such as in highly personalized sextortion attacks
Also, the fraudsters use AI-generated documents and content to bypass KYC checks on legitimate centralized services.
All sorts of "pig butchering," including investment scams, romance scams, employment scams and so on, were on fire in 2024 with 40% YoY increase of stolen crypto.
Increased activity of DPRK-related hacker groups remains a huge threat to global cybersecurity since their activity becomes well-funded and more sophisticated.
Alex DovbnyaAs covered by U.Today previously, North Korean hackers might be associated with almost all largest crypto hacks in recent years.
Dan Burgin
Vladislav Sopov