Chainalysis: Illicit DeFi Inflows Rise 343% Year on Year
Illicit cryptocurrency addresses received at least $154 billion in 2025, a 162% year-over-year increase, according to Chainalysis. The firm characterizes the figure as a lower-bound estimate based on addresses identified to date and frames 2025 as a record year for crypto crime here.
Chainalysis also reports that stablecoins accounted for 84% of all illicit transaction volume in 2025, highlighting a shift in how illicit funds move across networks here.
Data Snapshot
MetricCurrentPreviousChangePeriodAs ofSourceValue received by illicit cryptocurrency addresses$154 billion—162% increase year-over-year (YoY)20252026-01-08Chainalysis — Crypto Crime Reaches Record High in 2025 (blog)Share of illicit transaction volume accounted for by stablecoins84%——20252026-01-08Chainalysis — Crypto Crime Reaches Record High in 2025 (blog)Inflows processed by Chinese‑language money laundering networks (CMLNs)$16.1 billion——20252026-01-27Chainalysis — The Chinese‑language Underground Crypto Money Laundering Ecosystem (blog)Relative growth of inflows to identified CMLNs vs. other laundering endpoints since 2020inflows to identified CMLNs grew 7,325 times faster than those to centralized exchanges; 1,810 times faster than those to decentralized finance (DeFi)——since 20202026-01-27Chainalysis — The Chinese‑language Underground Crypto Money Laundering Ecosystem (blog)On‑chain value received by Abacus Market (a DNM)$43.3 million on‑chain in 2024—183.2% YoY20242025-05-16Chainalysis — Darknet market and fraud shop BTC revenues decline (blog)
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