In 2024, illicit cryptocurrency transactions worth approximately 40 billion dollars were recorded.
And the number is likely to increase even more in 2025.
Criminal activity related to cryptocurrencies could have reached up to $51 billion in 2024, according to a report by Chainalysis. This significant increase occurs as funds associated with criminal addresses received $40 billion, marking a successful year for criminals globally. It is crucial to note that this figure remains an estimate and may be adjusted as new data on previous crimes emerges.
A relevant aspect of the report is that crimes unrelated to cryptocurrencies, such as drug trafficking or money laundering, are not accounted for. In comparison, the total for the year 2023 was $46.1 billion. If Chainalysis's estimate is confirmed, it will represent an absolute increase, although the percentage of criminal activity in relation to the total volume of the industry has notably decreased. In 2023, the ratio of criminal volume to industry volume was 0.61%, but the approval of several cryptocurrency ETFs in 2024 has driven the entry of large institutions and investors, reducing this ratio to 0.14%.
Furthermore, a shift in the preferences of cybercriminals has been observed, as they now appear to be moving away from Bitcoin in favor of stablecoins. While about 70% of criminal transactions were conducted in Bitcoin four years ago, this percentage has dropped to 20% in the past year. In contrast, stablecoins, which are tied to fiat currencies and exhibit lower volatility, have gained ground and now account for around 63% of criminal transactions. Monero, known for its focus on privacy, was used in approximately 10% of reported cases.
